President Nakao Pledges Strong Partnership with Uttar Pradesh as ADB Signs $300 Million Loan for Roads
LUCKNOW, INDIA (27 June 2017) — The Asian Development Bank (ADB) President Takehiko Nakao, who commenced his 3-day visit to India today, met with Uttar Pradesh Chief Minister Yogi Adityanath in the state capital, Lucknow, and discussed future cooperation between ADB and the state. Uttar Pradesh is India’s most populous state with 200 million people and the largest rural population.
Mr. Nakao said ADB is ready to forge a long-term partnership with the state, which aims to achieve faster and inclusive growth by boosting per capita income, currently running at nearly half of the national average. Possible areas of ADB assistance include building smart cities, intelligent urban transport management, state and district roads, rapid rail transport, and electricity distribution.
During Mr. Nakao’s visit, a $300 million loan for the Uttar Pradesh Major District Roads Improvement Project was signed. This will upgrade about 430 kilometers of major district roads in the state.
“The project is a milestone for ADB to begin our partnership with the state of Uttar Pradesh, and will provide critical road connectivity to the heartland of the state by upgrading major district roads to all-weather use and improved safety standards,” said Mr. Nakao. The project supports the state government’s Core Road Network Improvement Master Plan, which plans to improve roads through a combination of state, private, and multilateral resources.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.