Asian Development Bank investment in MP
In order to smoothen and streamline power supply in Madhya Pradesh, the Asian Development Bank (ADB) has inked two loan agreements worth $400 million with India to upgrade district roads in Madhya Pradesh and to support improvements in the power transmission and distribution systems in Assam, Joint Secretary in the Ministry of Finance Tarun Bajaj said detailing that the government and ADB signed an agreement for a $350 million loan to upgrade district roads in the state of Madhya Pradesh. On this score, the district connectivity sector project will improve about 1,600 km of major district roads in Madhya Pradesh through lane widening, surface improvements, strengthening of culverts and bridges and that the project also covers the reconstruction and rehabilitation of the major district roads to all-weather standards. Apart from this, in a separate statement, the ministry said that India and ADB have signed a $50.2 million loan agreement to continue to support improvements to T&D systems in Assam for better electricity service to end users.