Asian Development Bank (ADB) a $200 million loan to finance widening and upgrading of about 230 kim State Highways in Bihar to all-weather standards with road safety features.
A MoU for this was signed in New Delhi on Monday. The signatories to the loan agreement were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance, who signed on behalf of the Government of India, and Rajeev P. Singh, Officer in-Charge of ADB's India Resident Mission, who signed for ADB. The project agreement was signed by Vipin Kumar, Resident Commissioner, Govt. of Bihar and Chandra Shekhar, Chief General Manager, Bihar State Roads Development Corporation Limited.
Khare said that this loan will complement the efforts of the Government of Bihar to upgrade all State Highways to meet the minimum two-lane standard with better surfaces and improved road safety leading to improved connectivity.
ADB's Singh said that the new loan will continue ADB's support in the development of the road sector in Bihar. The improved roads under the project will contribute to savings in vehicle operating cost and travel time, reduce vehicle emissions, and improve road safety. The project will also establish a State-level Road Research Institute to improve technical and management capacity of the Road Agency Staff.
Since 2008, ADB has provided four loans to Bihar, amounting to $1.43 billion, to upgrade about 1,453 km of State Highways and to construct a New Bridge over the Ganga River near Patna.
