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Asian Development Bank loans 400 million to India for roads & infrastr

The Asian Development Bank has approved three loans totalling 410 million US dollars to India to improve the subcontinent's roads and other infrastructure.

The Philippines-based lender says a 210 million-dollar loan will upgrade the national and state highways that link the West Bengal ports of Kolkata and Haldia with eastern India, Bangladesh, Bhutan and Nepal.

The bank also approved loans of 100 million dollars each to two national financing institutions, Infrastructure Leasing and Financial Services and the Industrial Development Bank of India.

The ADB says proceeds will also go to infrastructure projects in Andhra Pradesh, Gujarat, Karnataka and Madhya Pradesh.

12/12/01 4:49:29 | ABC Radio Australia News

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