ADB Current Affairs

India inks $346 million loan agreement with ADB to improve State Highways in Karnataka

India has inked $346 million loan agreement with Asian Development Bank (ADB) to finance Karnataka State Highways Improvement III Project (KSHIP-III) for improvement of over 400 km of state highways in Karnataka. This will help in enhancement of connectivity and access to economic centres across 12 districts in Karnataka.

Karnataka State Highways Improvement III Project (KSHIP-III)

KSHIP-lll project will upgrade about 419 kilometers of state highways to two-and four-lane with paved shoulders. It will also reconstruct, widen, and strengthen culverts and bridges. Use of hybrid annuity contracts is important aspect of the project is to improve quality and sustainability of road assets with performance-based maintenance period of 7 years, post-construction.

The project will also carry out road safety audit to identify and mitigate critical accident blackspots across state highway network. It will also strengthen the institutional capacity of the Karnataka Public Works, Ports, and lnland Water Transport Department.

The ADB Financing will be in addition to ongoing road improvement project financed by ADB with loan of $315 million which involves upgradation of about 615 km of state roads. The new loan will continue ADB support to Karnataka government’s statewide road improvement programme and will also help improve road safety. This project will promote economic activities and foster inclusiveness.

Month: Categories: Defence Current Affairs 2018

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ADB to provide US $375 million loan for Madhya Pradesh Irrigation Efficiency Improvement Project

Union Government has signed $375 million loan agreement with Asian Development Bank (ADB) for Madhya Pradesh Irrigation Efficiency Improvement Project. The project will contribute to double farming incomes in Madhya Pradesh by expanding irrigation networks and system efficiency.

Madhya Pradesh Irrigation Efficiency Improvement Project

It will develop 125,000 hectares of new, highly efficient and climate resilient irrigation networks. It will also improve water use efficiency in more than 400 villages and benefit over 800,000 people in the state. It will also support institutional innovations through introduction of design-build-operate contracting approach. It will also help farmers to adopt micro-irrigated agriculture including high-value crops. The ADB funds will be used to develop a large-scale pressurized and automated irrigation system for boosting irrigation efficiency.

It focuses on two large irrigation systems

  • Kundalia irrigation project: It will develop 125,000 ha of new and highly efficient and climate resilient irrigation networks. The work that will be undertaken includes building two large pumping stations pumping water to distribution chambers where water will be distributed through a network of buried pipes to farm outlets.
  • Sanjay Sarovar Irrigation Project: Under it comprehensive modernization feasibility study will be prepared and other preparatory work for soundly designed project.

Asian Development Bank (ADB)

ADB is a regional development bank based out of Asia. It aims to promote social and economic development in Asia by achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

It was established in December 1966. It is headquartered at Ortigas Centre in Manila, Philippines. ADB’s main objective is to assist its members and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

It has total 67 members, of which 48 are from within Asia and the Pacific and 19 outside. ADB has been modelled closely on the lines World Bank. It has similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions.

Month: Categories: India Current Affairs 2018

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