- The loan agreement of $2.5 million was signed between India and ADB.
- ADB will grant $2.5 million project readiness financing (PRF) support.
- The loan was signed for the project called ‘Sikkim Major District Road Upgradation Project’.
- The project will highly help to help improve connectivity between towns and rural areas of the state.
- This loan for the project will also help to enhance the economy of the state.
- The roads will be upgraded in order to withstand landslides and erosion calamity.
- Static Part:
- HQ of ADB: Mandaluyong, Philippines
- President of ADB: Masatsugu Asakawa
- CM of Sikkim: P. S. Golay
- Governor of Sikkim: Ganga Prasad Chaurasia
Question:
Q.1 Which organisation granted a loan to India to upgrade roads in Sikkim?
a. ADB
b. World Bank
c. AIIB
d. NDB
a. ADB
b. World Bank
c. AIIB
d. NDB
