Asian Development Bank and India sign $2.5 million agreement

ADB

The Asian Development Bank and the Government of India today signed a $2.5 million project readiness financing (PRF) loan to support project preparation and design activities to upgrade major district roads in Sikkim that will help improve connectivity to important towns, rural areas, and pilgrimage and tourist destinations in the northeastern state.

The signatories to the PRF for the proposed Sikkim Major District Road Upgradation Project were Shri Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance, who signed for the Government of India, and Mr. Takeo Konishi, Country Director of ADB’s India Resident Mission who signed for ADB.

Shri Mishra said that the PRF will support the state government’s priority in improving road connectivity in the hill state through planning and designing of major districts and other roads and bridges that will help boost the state’s economy and improve accessibility for people in remote villages.

Sikkim’s road network requires upgradation to all-weather roads as frequent landslides and erosion damage roads and disrupt intra-state connectivity. The PRF will help the state upgrade identified major districts and other roads to improve linkages to the national and state highway network connecting important towns and commercial centers.

The ADB-funded North Eastern State Roads Investment Program launched in 2011 had earlier supported road improvements in Sikkim. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

 

 

  • Asian Development Bank and India sign $2.5 million agreement

  • The Asian Development Bank and the Government of India today signed a $2.5 million project readiness financing (PRF) loan to support project preparation and design activities to upgrade major district roads in Sikkim that will help improve connectivity to important towns, rural areas, and pilgrimage and tourist destinations in the northeastern state.

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