ADB loan to improve more highways in State

• Loan of $346 million to finance improvement

Bengaluru: An agreement has been signed between the Asian Development Bank (ADB) and the Centre for a loan of $346 million to finance improvement of over 419 km of State highways. This development venture us expected to enhance connectivity and access to economic centres across 12 districts in Karnataka.

A press release said that the proposal under the Karnataka State Highways Improvement III Project,  is to upgrade about 419 km of State highways into two-lane and four-lane stretches with paved shoulders. The highways would be reconstructed even as culverts and bridges would be strengthened.

An ADB loan of $315 million, financed for a road improvement project is under implementation and involves upgrading 615 km of State Highway roads.

Joint Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance, Sameer Kumar Khare, said: “State highways provide crucial links to the population and economic centres, and support for the development of the State highway network in Karnataka through this project will promote economic activities and foster inclusiveness.”