Points to Remember:
- The Asian Development Bank (ADB) and the Government of India signed a $200 million loan to upgrade rural roads to all-weather standards in 34 districts of Maharashtra State to improve road safety and better connect rural areas with markets and services.
- ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
- Established in 1966, it is owned by 68 members—49 from the region.
- In 2018, it made commitments of new loans and grants amounting to $21.6 billion.
- The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in Metro Manila, Philippines.
- Headquarters: Mandaluyong, Philippines
- President: Takehiko Nakao
- Founded: 19 December 1966
- Membership: 68 countries
- Purpose: Economic development
Important Possible questions based on above News:
- Recently with whom India has signed $200 million loan to improve rural connectivity in Maharashtra? ADB
- In order to improve road connectivity of which state, India & ADB has signed $200 million Loan agreement recently? Maharashtra