$140-Mn loan approved to boost rural road connectivity over 5,600 villages

Beijing, April 13: Over 1.5 Million rural residents in State of Madhya Pradesh are going to directly benefit from improved livelihoods, education and mobility with the USD $ 140-Million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) in a Meeting held recently in Beijing.

Livelihoods of the rural population will be improved by expanding income earning opportunities through better farm-to-market road connections. Moreover, more children are expected to enroll in higher education programs and school attendance is expected to further improve. The road maintenance pilot under the Project will employ more women, contributing to gender equality and income generation.

“Promoting sustainable growth in India through investment in rural infrastructure will require substantial financing,” said AIIB Vice President and Chief Investment Officer D.J. Pandian.

“I am glad that AIIB’s participation in this project will contribute to reducing this financing gap and enhance overall development in the region.”

In addition to the above, the Project also aims to improve durability and accessibility, and enhance resilience to climate change of the gravel surfaced rural road in State of Madhya Pradesh while building the capacity of the State to manage its rural road network and road safety.