#YogiSarkar, ADB signs loan pact of Rs 1950 cr to boost road connectivity in UP
 Source : News Bharati English  Date : 28-Jun-2017

Lucknow, June 28: The Uttar Pradesh Government has signed an agreement with Asian Development Bank (ADB) for a loan of 1950 crore rupees for strengthening of roads in different district. Agreement was signed on Tuesday in the presence of Chief Minister Yogi Adityanath and ADB President Takehiko Nakao.

The project supports the state government’s Core Road Network Improvement Master Plan, which plans to improve roads through a combination of state, private, and multilateral resources. This will upgrade about 430 kilometers of major district roads in the state.

Nakao said ADB is ready to forge a long-term partnership with the state, which aims to achieve faster and inclusive growth by boosting per capita income, currently running at nearly half of the national average. Possible areas of ADB assistance include building smart cities, intelligent urban transport management, state and district roads, rapid rail transport, and electricity distribution.

“The project is a milestone for ADB to begin our partnership with the state of Uttar Pradesh, and will provide critical road connectivity to the heartland of the state by upgrading major district roads to all-weather use and improved safety standards,” said Nakao.

Significantly, ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members 48 from the region.