The Asian Development Bank (ADB) and the Government of India recently signed an agreement for $200 million new loan to upgrade 176 km roads in the state of Jharkhand. The financing for the Jharkhand State roads II Project will upgrade existing sections of four state roads to two lane standard and will also support improvements in the design, safety and maintenance of the network. The Department of Economic Affairs, Ministry of Finance, which signed the agreement on behalf of the Government of India, said in an official statement.

Apart from upgrading roads, the project will help the State to develop an international standard road safety master plan for promoting road safety in Jharkhand. Country Director of ADB's India Resident Mission, Ms M. Teresa Kho, who signed the agreement, said that the total cost of the project, due to be completed by December 2019, is $306.25 million and that the State Government of Jharkhand will provide counterpart assistance to the tune of $106.25 million.