India and Asian Development Bank have signed 346 Million dollar loan agreement to improve over 400 kilometers of State highways in Karnataka. Finance Ministry, in a release said, it will enhance connectivity and access to economic centres across 12 districts in Karnataka.
The loan agreement for the Karnataka State Highways Improvement Project was inked between Joint Secretary in the Finance Ministry Sameer Kumar Khare and Country Director of ADB’s India Resident Mission Kenichi Yokoyama.
Mr Khare said, Karnataka needs substantial infrastructure investments to sustain high economic growth and meet its development needs. He said, State highways are a key link to population and economic centres and continued development of the state highway network in Karnataka will foster inclusiveness and sustain economic activities.