Question: Loan for how many million dollars has been approved by the Asian Development Bank (ADB) for the upgradation of highways in state of Karnataka?
(a) USD 655 million
(b) USD346 million
(c) USD107 million
(d) USD 200 million
Answer- (b)
Related Facts:
- On December 8, 2017, the Asian Development Bank’s (ADB) Board of Directors has approved a $346 million loan to upgrade highways in the Indian state of Karnataka.
- The project will improve 419 kilometers of state highways, upgrading them to two and four-lane widths with paved shoulders, depending on traffic needs, and improving culverts and bridges.
- The project roads will also address the needs of residents along the state roads for adequate footpaths, lights, and improvement to curves that pose safety hazards, especially at night.
- In addition, the project will strengthen the efficiency and work of the Karnataka Public Works, Ports, and Inland Water Transport Department.
- The total cost of this project is $655 million, of which the state government will provide $202 million.
- Rest estimated $107 million will be invested by private sector through hybrid annuity contracts.
- The project is due for completion at the end of 2023.
Reference:
https://www.adb.org/news/adb-provides-346-million-upgrade-state-highways-karnataka-india
https://economictimes.indiatimes.com/news/economy/infrastructure/adb-okays-346-mn-loan-to-upgrade-karnataka-highways/articleshow/61985079.cms