Business News | ADB Approves USD 175 Million Loan to Upgrade Roads in Madhya Pradesh
Get latest articles and stories on Business at LatestLY. ADB has played a pivotal role in supporting the development of road networks in Madhya Pradesh since 2002.
Manila [Philippines], October 24 (ANI): The Asian Development Bank (ADB) has granted approval for a USD 175 million loan to enhance road connectivity and climate resilience in Madhya Pradesh, India.
ADB has played a pivotal role in supporting the development of road networks in Madhya Pradesh since 2002.
This endeavour has led to the enhancement of over 9,000 kilometres of state highways and major district roads, as highlighted by ADB Transport Specialist Yang Lu.
Lu further emphasized that the current project aims to foster connectivity between rural areas and growth centres, bolstering industrial corridors and ensuring the creation of safer, more climate-resilient roads to stimulate Madhya Pradesh's inclusive, equitable, and sustainable economic growth, sated the press release by ADB.
The project's key features involve upgrading approximately 500 kilometres of state highways and major district roads to a standard two-lane design.
These upgraded roads will incorporate climate- and disaster-resilient aspects, innovative road safety elements, and facilities catering to the needs of the elderly, women, children, and individuals with disabilities.
Furthermore, ADB plans to enhance the Madhya Pradesh Road Development Corporation Limited (MPRDC) in terms of climate change adaptation and mitigation, disaster resilience, and road safety in road network planning and management.
The initiative will aid in formulating strategies and plans to utilize green technology in road construction and establish charging infrastructure for electric vehicles.
Additionally, the project intends to support MPRDC in creating a strategy for gender equality and social inclusion and to institute an internship program to encourage female students to work in the road sector.
It also aims to collaborate with women's self-help groups to raise awareness about road safety.
Furthermore, the project will conduct livelihood and entrepreneurship training programs for women and girls and construct at least two roadside markets. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)