The Asian Development Bank (ADB) has sanctioned $200 million (approx Rs 920
crore) loan to fund a road project in Jharkhand.
The funds are likely to be used to finance a 311-km, two-lane road project
that is expected to connect the Jharkhand's northern region to the national
highway network.
ADB's loan covers 83 per cent of the total project cost of $240 million
(approx Rs 1,104 crore). The loan has a 25-year term, including a grace period
of five years. The Jharkhand Government is likely to bear the remaining cost of
$40 million (approx Rs 184 crore).
The Road Construction Department of Jharkhand is likely to execute the
project with completion scheduled for June 2014.
Also See:
ADB
loan for Assam (19-Nov-09)