ADB extends US$252mn loan to fund road construction in five India states

Philippines-based Asian Development Bank (ADB) has agreed to loan the Indian government US$252 million for key road construction projects. The 25-year loan has a grace period of five years, a commitment charge of 0.15% per annum, and the interest rate will be determined on ADB’s LIBOR-based lending facility. The loan will be used to finance the construction of 3,461km of all-weather rural roads in West Bengal, Odisha, Madhya Pradesh, Chhattisgarh and Assam with the first phase scheduled to complete in Decem
April 9, 2013 Read time: 1 min
Philippines-based 943 Asian Development Bank (ADB) has agreed to loan the Indian government US$252 million for key road construction projects. The 25-year loan has a grace period of five years, a commitment charge of 0.15% per annum, and the interest rate will be determined on ADB’s LIBOR-based lending facility.

The loan will be used to finance the construction of 3,461km of all-weather rural roads in West Bengal, Odisha, Madhya Pradesh, Chhattisgarh and Assam with the first phase scheduled to complete in December 2015. The rural roads will benefit 1,600 rural habitations across the five states. The loan is also the first tranche of an $800 million financing facility under the Rural Connectivity Investment Programme.

For more information on companies in this article

Related Content

  • Ethiopia’s building roads
    November 29, 2013
    Ethiopia is set to benefit economically from investment in a number of new key road links totalling over US$1 billion. The east African nation’s 218km Modjo-Hassan highway is expected to cost US$720 million to construct. The highway will be constructed in two stages. The first section of the route will stretch 93km from Modjo to Zeway and is expected to cost $350 million to complete. The second section of the highway will be 125km long and link Zeway with Hewassa and this stretch is estimated to cost $370
    Read More
  • Concrete paving in India with Wirtgen
    September 22, 2023
    An Indian road project is benefiting from the use of equipment from Wirtgen.
    Read More
  • Loans for Albanian roads
    May 15, 2012
    The European Bank for Reconstruction and Development (EBRD) is providing a loan worth €50 million to help with the rehabilitation of regional and local roads as well as the modernisation and improvement of transport infrastructure in Albania. This EBRD loan will be used to improve to 500km of roads in rural areas of Albania. The European Investment Bank (EIB) will provide a loan for the same amount for the project. The project is also supported by €33 million in grant financing from the European Commission
    Read More
  • India’s poor road safety requires improvement
    September 13, 2016
    The Indian Government has revealed that 146,133 people died in crashes on the country’s roads during 2015. This figure is of concern as it is an increase of 4.6% over India’s road fatality rate of 139,671 for the previous year. Also of concern is the fact that over half of the people who died in crashes were aged from 15-34, revealing that there is a particularly high risk for the young on India’s roads. The data also shows that there were 501,423 reported crashes on India’s road network in 2015, an increas
    Read More

Highlighted Content