Asian Development Bank signs agreement with Government for $500 million Bihar bridge across Ganga

index.jpgSource: Financial Express, Dec 18, 2016

An agreement between Asian Development Bank and Government was signed for the construction of a new bridge across the river Ganga at $500 million. The bank had approved $500 million loan for the bridge in June this year. ADB in a statement said that the bridge that is to constructed would be India’s longest river bridge. The bridge is expected to provide an important link between the north and south of Bihar and even with Nepal. It also said that over nine million people would be benefitted from the bridge. Moreover, according to the statement, the construction of the bridge will facilitate travel and will be proved beneficiary for the people who have to travel to the south of the state for jobs.

The ADB statement also added that the 9.8 km road bridge will provide an alternate route to the current one which has started to deteriorate. The statement further adds that in addition to ADB’s loan and $900,000, the Bihar government will invest equivalent to USD 215 million. The proposed date for the completion of the project is set for December 2020.

The Asian Development Bank in September had also said that it’ll help Bangladesh with $8 billion low interest loan over the next 5 years to improve the country’s infrastructure. Aimed at giving a boost to human capital, the total lending included money for construction of railway line, improving rural livilihoods, providing climate and disaster resilient infrastructure. Moreover, it is also expected to improve the access to neighbouring Myanmar.

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