ADB Inks $ 220 Million Loan Agreement for Rajasthan State Highways Investment Program

⪻ On New Articles ⪼

Union Government and Asian Development Bank (ADB) signed $ 220 million loan agreement on State Highways of Rajasthan. Part of first part of the $ 500 million Rajasthan State Highways Investment Program, approved by ADB Board in May 201 7 to upgrade about 2,000 kilometers of state highways and district roads.

Asian Development Bank

About Rajasthan State Highways Investment Program

  • Aims improve State Highways and district roads in Rajasthan.
  • The total cost of the project is $ 1.415 billion, of government contributing $ 465 million and $ 450 million from the private sector and other concessionaries.

Asian Development Bank (ADB)

  • Regional development bank to promote social and economic development in Asia.
  • Established on 19 December 1966.
  • Headquartered in Manila, Philippines.
  • Has 67 members- 48 from Asia and the Pacific; 19 outside.
  • Modelled like World Bank- similar weighted voting system
  • Votes distributed in proportion with members՚ capital subscriptions.
  • Japan is the largest shareholder (capital subscription) of ADB having 15.7 % shares followed US (15.6 %) , China (6.5 %) , India (6.4 %) , and Australia (5.8 %) .

Developed by: