NCLAT Sets Aside Insolvency, Imposes ?10L Costs Following Recusal over Attempt to Influence Member  ||  J&K&L HC: Sec 195 CrPC Bars Cognizance Without Public Servant's Complaint, Not FIR or Investigation  ||  Allahabad HC: Preliminary Issues Barred if Raised 18 Years After Issues Were Framed in a Suit  ||  Guj HC: No Prior Hearing Needed to Dismiss Cop After Corruption Conviction under Article 311(2)(A)  ||  Madras HC: Senior Citizens Act Applies Only To Post-2007 Property Transfers, Not Retrospective  ||  Supreme Court: Private Insurer Not Liable For Accident by Vehicle under State Requisition  ||  SC: Reserved Candidates Can Claim General Seats on Merit with Relaxation if Rules Allow  ||  SC: No Vested Right to Appointment For Next Candidate if Selected One Doesn't Join  ||  Supreme Court Restores Arbitral Award, Rules State Cannot Be Judge in its Own Dispute Case  ||  Delhi HC: Girl Being Friendly on Valentine’s Day Does Not Justify Forced Sexual Activity under POCSO    

Asian Development Bank and India sign $150 Million Loan to Improve Regional Connectivity- (Press Information Bureau) (01 Oct 2018)

MANU/PIBU/1381/2018

Civil

The Asian Development Bank (ADB) and the Government of India signed here today a $150 Million Loan to finance continued improvements to road connectivity and efficiency of the International Trade Corridor in West Bengal and North-Eastern Region of India. The signatories to the Tranche 2 Loan Agreement for the $500 million South Asia Sub-regional Economic Cooperation Road Connectivity Investment Program were Shri Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs in the Ministry of Finance, who signed on behalf of the Government of India; and Mr. Kenichi Yokoyama, Country Director of ADB's India Resident Mission, who signed for ADB. Approved in 20'14, the Program aims to expand about 500 kilometers of roads in India's North Bengal and North-Eastern Region that will enable efficient and safe transport within India and regionally with other SASEC member countries.

The Project Agreement for the State of Manipur was signed by Mr. Sheikh Abdul Hakim, Under Secretary (Works) and for the National Highways and Infrastructure Development Corporation Limited was signed by Mr. W. Blah, Executive Director (Works).

After signing the loan agreement, Mr. Khare said that the Program is an important initiative in Regional Connectivity aimed at increasing domestic and regional trade through North Bengal-North East Region International Trade corridor by upgrading key roads. He said that it will give a boost to India's efforts to promote regional connectivity in the South Asia.

Speaking on the occasion, Mr. Yokoyama said that the new loan will help up-gradation of key national and state highways in Manipur and construct an important international bridge for crucial last-mile connectivity between in-country trunk road network and neighbouring countries.

The Tranche 2 Project will upgrade about 65 kilometers of Imphal-Moreh Section of National Highway in Manipur, construction of about 1.5 km of an international bridge between India and Nepal, and completion of about 103 km of a State Highway in Manipur between Imphal and Tamenglong under Project-I. The Project will reduce transaction costs along the targeted cross-border corridors substantially, creating economies of scale and commercial prosperity.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members-48 from the region. In 2017, ADB operations totalled $32.2 billion, including $11.9 billion in co-financing.

Tags : LOAN   SIGNING OF   IMPROVEMENT   REGIONAL CONNECTIVITY  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved