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ADB approves 400 million-dollar loan to India
Manila, Nov 24: India has obtained a 400 million-dollar loan from the Asian Development Bank (ADB) to build roads in Madhya Pradesh and Chhattisgarh, the Philippines-based lender said today.
Manila, Nov 24: India has obtained a 400 million-dollar loan from the Asian Development Bank (ADB) to build roads in Madhya Pradesh and Chhattisgarh, the Philippines-based lender said today.
The project will build 11,000 kms of all-weather roads in the two states and set up management systems for them, an ADB statement said.
The loan matures in 25 years, with interest
determined in accordance with ADB's Libor-based lending
facility.
Bureau Report