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Roads to be upgraded over 5-year period
India has signed First Loan Agreement with New Development Bank (NDB) for US$350 million for developing and upgrading major district roads in Madhya Pradesh.
The Project would include upgrade, rehabilitation or reconstruction of approx. 1,500-km of district roads to intermediate lane, all-weather standards, with road safety features and improved road asset maintenance & management.
The project implementation is 5 years.
The Madhya Pradesh state government and the Madhya Pradesh Road Development Corporation are the implementing agencies.
The Loan Agreement was signed in New Delhi on 30 March 2017. Fii-news.com.
