September 3, 2009, New Delhi: The Government of India (GoI) signed a loan agreement (Loan No.2535-IND) with the Asian Development Bank (ADB) for Rural Roads Sector II Investment Program – Project 4.
The Rural Road Sector II Investment Program was approved in 2005. The programme involves a cost of around US$750 million. Out of this, three tranches amounting to US$387.65 million has already been approved and work is underway in the states of Assam, Orissa and West Bengal.
Under tranche-IV (Rural Road Sector II Investment Program – Project 4), ADB would provide US$185-million loan to improve rural roads, covering 917 km in Assam, 1499 km in Orissa and 696 km in West Bengal.
Anup K. Pujari, Joint Secretary (Multilateral Institution), Department of Economic Affairs, Ministry of Finance, has signed the loan on behalf of the GoI, while Tadashi Kondo, Country Director, India Resident Mission, ADB signed on behalf of the bank.
Jitendra Kumar, Director of the Ministry of Rural Development, Prasanta Kr. Chetia, Deputy Secretary (Highways) of PWD in the Government of Assam, M Satyanarayan, Resident Commissioner in the Government of Orissa and Bhaskar Khulbe, Resident Commissioner in the Government of West Bengal signed the loan on behalf of the respective Ministry and the state governments.
With the processing of tranche-IV, balance available under the facility would be US$ 177.35 million.
BSC/BY/GN-317/09
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