GOVERNMENT OF INDIA AND ASIAN DEVELOPMENT BANK (ADB) SIGN $200 MILLION LOAN TO IMPROVE STATE HIGHWAYS IN BIHAR

Context

  • The Asian Development Bank (ADB) and the Indian Government paid 200 million rupees. A loan agreement has been signed. With this amount 230 km of highway in Bihar will be widened and upgraded. In this way these highways will not only be accessible in all seasons, but also all arrangements for road safety.

Benefits of road improvement under the project

  • This will save the cost of driving and travel time.
  • Reduced emissions from vehicle.
  • This will improve road safety.

Asian development bank

  • ADB is headquartered in Manila, Philippines.
  • Asian Development Bank consists of 67 member countries, 48 ​​of which are from the Asia and Pacific region and the rest are from outside.
  • ADB was prepared on the lines of the World Bank.
  • Like the World Bank, there is a system of weightage in voting, that is, the amount of money that the country gives to the bank, the value of its vote is the same.
  • ADB raises the money through bonds issued in the world capital markets.
  • It caters to its financial needs by the economic contributions made by its member countries, the return of borrowed earnings and loans.
  • It is a representative from each member state. Board of Governors elect the chairman of the bank.
  • The term of the chairman of this bank is of 5 years and it can be re-elected. Traditionally, the appointed chairman has always been from Japan, and this is probably also because Japan is one of the largest shareholders of the bank.

Related posts

Total
0