State Highways 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 approves $346 million loan to upgrade Karnataka highways

Multilateral funding agency Asian Development Bank (ADB) has approved $346 million loan for highways upgradation project in Karnataka.

The loan funds will be used for Karnataka State Highways Improvement III Project to upgrade 419 km of state highways from two to four–lane widths and improving culverts and bridges along stretch of road.

Key Facts

The project roads will address needs of residents along roads for adequate footpaths, lights, and improvement to curves that pose safety hazards, especially at night.

It will also carry out a road safety survey to identify critical accident spots across the state highways and carry out measures to improve these. Besides, the upgradation will also include construction of planned pedestrian, installation of women-friendly amenities, marked crossings and proper signage.

This is second loan from ADB for improving state’s road network. The total project cost has been estimated to be US $655 million, out of which, state government will provide US $202 million and US $107 will be raised through private sector investment through hybrid annuity contracts.

Asian Development Bank (ADB)

ADB is a regional development bank which aims to promote social and economic development in Asia. It was established on 19 December 1966. It is headquartered in Manila, Philippines. Now it has 67 members, of which 48 are from within Asia and the Pacific and 19 outside. The ADB has been modelled closely on the World Bank. It has similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions. As of 2014, Japan was largest shareholder (capital subscription) of ADB having 15.7% shares followed by US (15.6%), China (6.5%), India (6.4%), and Australia (5.8%).

Month: Categories: States Current Affairs - 2018

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