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ADB Approves Loan to Improve Road Connectivity in Maharashtra

Published on November 07, 2022
Current Context: The Asian Development Bank (ADB) approved a USD 350 million (INR 2900 crore) loan for the improvement of road connectivity in Maharashtra.
ADB Approves Loan to Improve Road Connectivity in Maharashtra
  • The construction of the roads will take place under the Maharashtra State Road Improvement Project (MSRIP), which was approved by the ADB in 2020.
  • The objective of the project is to connect underdeveloped rural communities with off-farm opportunities along with improving their access to health services.
  • A total of around 319 kilometers of state highways and 149 kilometers of district roads will be upgraded under the project.
  • These roads will be incorporated with climate and disaster-resilient features.
  • In addition to this, a 5-kilometer major district road will also be constructed that will join Nanded (a district in Maharashtra bordering Telangana) and Telangana.
  • The ADB was established in 1966 as a regional development bank with its headquarters in Mandaluyong, Philippines. The current President of the ADB is Masatsugu Asakawa.

Question:

Q.1 Which of the following recently approved a USD 350 million loans for the improvement of road connectivity in Maharashtra?
a. World Bank
b. Asian Development Bank
c. New Development Bank
d. IMF
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