AfDB signs $ 2.5 million loan agreement with Union government to modernize road infrastructure in Sikkim – The New Indian Express
New Delhi, June 3 (PTI) The Asian Development Bank (ADB) signed a pact with the Union government for loan assistance of $ 2.5 million (approximately Rs 18.23 crore) to modernize road infrastructure in the northeastern state of Sikkim.
The $ 2.5 million Project Readiness Finance (PRF) loan will support project preparation and design activities aimed at upgrading major district roads in Sikkim, AfDB said in a statement Thursday.
The pact will help improve connectivity with major cities, rural areas, and pilgrimage and tourist destinations in the northeastern state, AfDB said.
The PRF signatories for the Sikkim Major District Road Modernization Project were Rajat Kumar Mishra from the Ministry of Finance and the AfDB Country Director for the AfDB Resident Mission in India, Takeo Konishi.
The state’s road network needs to be upgraded to all-weather roads, as frequent landslides and erosion damage roads and disrupt intra-state connectivity, AfDB said.
“The PRF will support the state government’s priority of improving road connectivity in Hill State through the planning and design of major districts and other roads and bridges that will help boost the economy of state and improve accessibility for people in remote villages, ”Mishra said.
Some of the priority roads identified for upgrading are included in the State Master Plan for Transport Management which was formulated with AfDB technical assistance in 2012.
The AfDB-funded Northeast State Roads Investment Program launched in 2011 had already supported road improvement in Sikkim.
The PRF project aims to ensure implementation and readiness through feasibility studies, preparation of detailed technical designs of selected subprojects and capacity building of state agencies so that the ensuing project is completed. on time, Konishi said.
“This will also help to integrate elements of road safety, maintenance, adaptation and climate change mitigation into the ensuing project for the long-term sustainability of the assets created,” he added. .