Ashok Chavan: Maharashtra to borrow Rs 15,000 crore in loan from ADB for road works

Maharashtra PWD Minister Ashok Chavan on Monday said, “The Govt will borrow a loan of Rs 15,000 crore from Asian Development Bank (ADB) for road works.”

Briefing the press on Monday, Chavan said, “The backlog in the roads have gone up and the funds required would be more than the allocated state budget.”

“The Govt is planning to borrow a loan of Rs 15,000 crore from the Asian Development Bank at the nominal interest rate of 1% to 1.5%,” the Minister added.

“We are also planning to raise the funds through an assets monetization,” he added.