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Asian Development Bank loans $412m for two projects in India

04:43, 9 September 2021

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ADB to extend loans for India projects
ADB loans for India projects – Photo: Shutterstock

The Asian Development Bank (ADB) has signed two agreements with the Indian government to extend loans totalling $412m (INR30.4bn)for projects in two states, according to a release.

The Manila-headquartered multilateral agency signed a deal with the government to finance the scaling up of rural connectivity to help boost the rural economy in the western state of Maharashtra for $300m. 

The second deal includes a loan of $112m to develop a water supply infrastructure in four towns in the central Indian state of Jharkhand.  

Rural connectivity loan 

ADB's additional financing for the ongoing Maharashtra Rural Connectivity Improvement Project would help improve an additional 1,100 rural roads and 230 bridges for a total length of 2,900 km in 34 districts. The ongoing project, which has $200m financing approved in August 2019, is already improving and maintaining the condition and safety of 2,100 km of rural roads across the state.

“Improved connectivity through climate-resilient, all-weather rural roads will help accelerate Maharashtra’s economic recovery from COVID-19 shock by generating rural employment and transforming agriculture,” said Takeo Konishi, country director of ADB’s India Resident Mission.

Water supply project

“The project in Jharkhand will be ADB’s first urban project in the state and help establish a model for continuous water supply combined with policy reforms for a sustainable operation which can be replicated by other low-income states for providing safe drinking water to urban households as envisaged under national Jal Jeevan Mission,” Konishi added.

Four water treatment plants, with a combined capacity of 275 million litres per day, would be established in the project towns to provide safe drinking water. The project will also establish a 940km water distribution network to provide water to about 115,000 households.

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