Asian Development Bank (ADB) has shown keen interest for a multi-year engagement with the Bihar government by lending money to fund various infrastructural projects across the state. The decision was taken after a ten-member delegation of the ADB from Manila held detailed discussions with Chief Minister Nitish Kumar and some top bureaucrats. State Planning Board vice chairman N K Singh, who held a separate discussion with the team, said the delegation has showed interest in funding sectors like road, energy, urban development, agriculture marketing and cooperative sector. The loan from the bank will help the state government in meeting its projected public investment of Rs 58,000 crore under the Eleventh Five Year Plan. “It will enable us to borrow on most efficient terms,” he said. Singh added that once finalised the borrowing will come handy for Bihar since it has a five year moratorium and after that the loan repayment will be spread over a period of 25 years. “They are very keen and are looking for a long term engagement with Bihar. They delegation was quite impressed by the administrative and other reforms undertaken by the state government in the last one year,” Singh said. In the road sector, the bank is keen to fund rural roads not covered under the Prime Minister’s Rural Road Project besides state highways.
