NEW DELHI, Jan 4 (NNN-PTI) – India’s federal government and the Asian Development Bank (ADB), yesterday signed four different loan agreements worth 1.22 billion U.S. dollars, for developing infrastructure in four Indian states, the federal finance ministry, said.
The four separate agreements would cover infrastructural projects ranging from metro rail, power, and road to economic areas in Tamil Nadu, Tripura, Assam and Maharashtra, respectively.
According to the finance ministry, a 350-million-dollar loan from ADB will be used to build new lines and improve the connectivity of the metro rail system in Chennai, the capital city of Tamil Nadu.
In Tripura, a 220-million-dollar loan will be used to strengthen the state’s power sector. Likewise, a 300-million-dollar loan will be used to upgrade over 300 km of state highways and major district roads in Assam.
For Maharashtra, a 350-million-dollar loan will be used to improve the connectivity of key economic areas in the state, the ministry said.– NNN-PTI
