ADB commits USD 350 mn loan for Chhattisgarh road improvement project

Multi-lateral funding agency Asian Development Bank (ADB) Friday said it has okayed USD 350 million loan for road project in Chhattisgarh.

ADB has approved a USD 350 million loan to rehabilitate and upgrade state highways and major district roads in Chhattisgarh, which will improve connectivity and access to basic services and livelihood opportunities, it said in a release.

Total project cost is USD 521.69 million of which the government will finance USD 171.69 million.

Chhattisgarh is overwhelmingly rural (about 96 per cent of the area) rich in natural resources and a major producer of minerals such as coal and iron ore.

However, according to the 2011 census, poverty levels were at about 38 per cent of the population, ADB said.

A safe and efficient road network will significantly contribute to state's economy and development, and thus contribute to poverty reduction in the state, it said.

"Chhattisgarh relies heavily on roads for the movement of people and goods, particularly in ...