Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
ADB grants to India $420 mln loan for highway project
+ -
17:00, September 18, 2008

 Comment  Tell A Friend
 Print Format  Save Article
The Asian Development Bank (ADB) is extending a 420-million-U.S.-dollar, 25-year loan to the Indian state of Bihar for the expansion of the state's highway network, the lender said on Thursday.

The Bihar State Highways Project will improve about 820 kilometers of roads under the state government's highway development program. A 1-million-dollar technical assistance is also granted by the ADB for the reform and strengthening of road sector institutions.

Bihar, the country's third most populous state, is one of the poorest states in India. Its development is a key to the country's goal of regionally balanced growth, the ADB said in a press release. Many roads have deteriorated badly in the past years, and demand for improved road transport has increased sharply due to India's strong economy.

"The project is a core investment of the state government to transform the state dependent on subsistence farming to a state built on market-oriented agriculture and tourism and to attract private sector investment," said Hiroaki Yamaguchi, a Senior Transport Specialist with ADB's South Asia Department.

"It will improve access to socioeconomic services, increase employment opportunities and improve transport services which will reduce poverty in the region," the specialist said.

The project is the first in the state to adopt international best practices for procurement and contract management. Under the project, contracts are packaged into larger sizes to attract major companies which will then be able to sub-contract work to smaller local firms.

The technical assistance will help reform the state government's road construction department, which currently lacks modern project management and procurement systems, often resulting in cost and time overruns on projects.

The loan will run for four years with an expected completion date of January 2012, according to the ADB.

Source:Xinhua



  Your Message:   Most Commented:
Why some Western media scared of reportage on true China
Russia warns against NATO membership for Georgia 
US-India nuclear agreement going through bottleneck
Why EU leaders call special, emergency summit?
EU wants to be more equal to Washington

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90863/6502175.pdf