- As per press notification of Ministry of Finance, Government of India and ADB(Asian Development Bank) have signed a loan agreement for $800 million for financing under the Rural Connectivity Investment Program.
- This is the third and last phase of finance under the said program.
- These funds will be utilized for constructing all – weather roads over 6000 kilometers connecting more than 4200 rural villages.
- This will support Pradhana Mantri Gram Sadak Yojana.
- Under this plan all – weather roads will be provided in selected villages in five states viz. Assam, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengal.
- Country Director of ADB is confident that this program will also be successful just like other two programs.
- This program will be executed by the Ministry of Rural Development and all five states will be involved through their State Rural Roads Development Agencies in implementation of the program in their respective state.
- This program expected to be concluded by Dec.2017
Source : NIC NewsLetter