A US $200 million loan to build roads in India’s northeast
A US $200 million loan to build roads in India’s northeast has been announced by the Asian Development Bank (ADB). A person from Portfolio Management Specialist in ADB’s South Asia Department Hideaki Iwasaki said the loan will help upgrade 400 km of roads in Manipur, Assam, Meghalaya, Sikkim, Mizoram, and Tripura. He added the work will include strengthening pavements, widening of existing roads, providing permanent structures at river crossings and raising embankments.
Iwasaki said “By upgrading these roads we will be able to improve accessibility and mobility for many communities that will help provide new economic opportunities, reduce poverty, and boost growth.” More than 30 per cent of the population in India lives below the poverty line. The loan will be released in two part tranches. Iwasaki said in a statement the first portion of about US $75 million will be used for over 200 km of roads in Meghalaya, Assam, and Sikkim.
The state and central governments will provide of US $98.2 million from the total programmed investment cost is of US $298.2 million. The program is to be completed by the end of December 2016 by the Indian Ministry of Development of North Eastern Region and the state governments.
