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Loan Agreement: Rural Connectivity Investment Program – Tranche 3 b/w ABD & GOI

$273 million loan agreement has been inked between Asian Development Bank (ADB) and the Government of India (GOI) for the improvement of rural roads in the States of Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal.

  • The loan is a part of $800 million Rural Connectivity Investment Program supports the government’s objectives under the Pradhan Mantri Gram Sadak Yojana (PMGSY).
  • The loan represents the third and last tranche of RCIP.

Loan Agreement: Rural Connectivity Investment Program - Tranche 3 b/w ABD & GOILoan agreement signed by

  • Shri S. Selvakumar, Joint Secretary (Bilateral Cooperation), Department of Economic Affairs, Ministry of Finance
  • Ms Teresa Kho, Country Director of ADB.

Loan Utilisation
The investment program aimed to improve and sustain the connectivity of selected rural communities in the investment program states to markets, district headquarters, and other centers of economic activities.

  • Construction of 6,000 kilometers of all-weather rural roads in the aforesaid five States, benefiting over 4200 rural habitations.
  • To make further investments as well as supporting improved road design, road safety and asset management measures, and training, with women actively involved in all aspects.

Keys
The Ministry of Rural Development (MORD) is the executing agency of the project at the central level while Governments of States of Assam, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengal have been entrusted with overall implementation at the respective State level.

  • The third tranche is expected to be completed by December, 2017.