India and ADB Sign $350 Million Loan for Upgrading 1,500 kms Roads in Madhya Pradesh

India and ADB Sign $350 Million Loan for Upgrading 1,500 kms Roads in Madhya Pradesh

Question: In terms of size, Madhya Pradesh is the … state of India.
(a) largest
(b) second largest
(c) fourth largest
(d) third largest
Ans: (b)

  • On 22nd March, 2017, The Asian Development Bank (ADB) and the Government of India signed a $350 million loan for improving about 1,500 kilometers of major district roads in Madhya Pradesh.
  • This will complement the efforts of Government of Madhya Pradesh to bring about seamless road connectivity across the State by linking State Highways and Rural roads through District roads.
  • The Project will involve upgrading roads with concrete pavements, strengthening culverts and bridges, and maintaining the improved road assets for a period of five years after construction, on a performance based payment format.
  • The Project will also develop and introduce a cashless accident victim treatment facility in the state, and improve the accident response system.
  • Along with ADB’s loan, the Government of Madhya Pradesh will provide counterpart support of $150 million.
  • The project will run for almost four years with an expected completion date of March 2021.
  • Madhya Pradesh is the second-largest State in the country, with an area of about 308,000 square kilometers and a population of about 73 million.
  • Agriculture still underpins the State’s economy and about 70% of the people live in rural areas. The State has also been undertaking a number of development initiatives to boost industrial activity. Since industrial development and agricultural production are dispersed, the road network is a vital element of the economic infrastructure.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=159733
https://www.adb.org/