India and ADB sign $200 Million loan to improve state highways in Bihar
Updated: Nov 25, 2019
Union Government has signed a $200 million loan agreement with Asian Development Bank (ADB) for Bihar State Highways III Project (BSHP-III). It will finance the upgradation & development of 230kms of state highways with all the standards of road safety features. This project has been approved by ADB in October 2018.
The project also seeks to build an institutional capacity of state for road design and maintenance and incorporate appropriate new technologies in the State’s road sub-sector. The improved roads under the Project will adds to savings in vehicle operating cost and travel time, reduce vehicle emissions and advances the road safety. This loan will complement the efforts of Bihar Government to upgrade all state highways to meet minimum two-lane standard with better surface and upgraded road safety leading to enhanced connectivity. It will also establish State-level Road Research Institute to improve technical & management capacity of the Road Agency Staff.
ADB, the regional development bank out of Asia, established in December 1966, it aims to promote social and economic development by acquiring a prosperous, inclusive, resilient, and sustainable Asia-Pacific, while sustaining its efforts to eradicate extreme poverty.