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ADB sanctioned 300 million US dollars under SCRIP for road construction in NBNE region

Mar 27, 2015 18:00 IST

SCRIP: SASEC Road Connectivity Investment Program

The abbreviation SCRIP (SASEC Road Connectivity Investment Program) was in news as a loan agreement of 300 million US dollars under the programme was signed between the Asian Development Bank (ADB) and the Union Ministry of Finance on 26 March 2015.

Under this multi-tranche programme, about 500 km of roads will be constructed in the North Bengal-North East (NBNE) region. ADB is providing 500 million US dollars for the execution of the programme.

SRCIP is a strategic initiative that aims to achieve regional integration among the members of the South Asia Sub regional Economic Cooperation (SASEC) group by improving road connectivity within the North Bengal-North Eastern Region in India. The members of this group are Bangladesh, Bhutan, India and Nepal.

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Read more Current Affairs on: SCRIP , SASEC , Regional connectivity

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