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$500 million ADB Loan to build India’s Longest River Bridge across Ganges near Patna

The Asian Development Bank announced a 500-million US dollar loan to build a river bridge across the Ganga along Patna in Bihar.

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Annai Indira Gandhi Bridge / Pamban Bridge at Rameshwaram Tamil Nadu.It was India's first sea bridge and second longest sea bridge in India. Image source: blog.pkp.in

   

  • ADB has announced a loan of 500-million US dollar to build India’s largest river bridge 
  • Stretching a length of 9.8 km, the bridge will be take 4 years of construction and will be completed in December 2020 as scheduled
  • The bridge will benefit over nine million people, said the head of the project

The Asian Development Bank (ADB) on June 24 gave nod to a 500-million US dollar loan for building India’s largest river bridge across river Ganga near Patna in Bihar.

The bridge, with a proposed length of 9.8 km would ease traffic and provide transport links between north and south Bihar, as well as connect it with neighbouring Nepal.

According to the jagranjosh.com report, “the new bridge will make it easier for people to move between jobs and markets, particularly for poorer communities in the north wishing to travel to the state capital, Patna, just south of the river,” said Dong Kyu Lee of ADB’s South Asia Department, who is heading the project.

The bridge will facilitate a year-round embankment access road for the 250000 residents of the Raghopur Diyara island, who presently rely on boats and seasonal bridges to travel to Patna.

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River Ganga in Patna, Bihar Image Source: Wikimedia Commons
River Ganga in Patna, Bihar. Image Source: Wikimedia Commons

The construction project, additionally funded by the Bihar Government with a support sum of 215 million US dollars, will run for 4 years with an expected date of completion in December 2020, said the jagranjosh.com report.

Using state-of-the-art engineering techniques, the project includes plans of building viaducts, toll service counters, national highway linkages and embankments. The dimensions of the bridge are so designed that the impact of it on the river will be most minimal. It will further be able to withstand climate stress and high rise of water levels.

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An additional sum of 900000 US dollars will be provided by the ADB for “technical assistance to improve bridge operation and management”, said Lee.

Bihar, with a population of over 100 million is the third most populous state in India, but the poverty levels in the state are huge. About seven of the state’s ten poorest districts are in the north. The bridge is hoped to be of great benefit to the inhabitants who can travel easily for better income opportunities.

The capacity of existing bridges are not enough to meet the demands of increasing number of workers and labourers who have to spend more time and money on a regular basis for better jobs. But with the upcoming river bridge, engineers and designers working on the project hope that the scenario will be very different.

“In all, the bridge is expected to benefit over nine million people,” said Lee.

-By Maariyah Siddique, intern at NewsGram. Twitter:  @MaariyahSid

ALSO READ:

  • Aparna Gupta

    This development in infrastructure will definitely help commuters to travel easily.

  • Vrushali Mahajan

    Good to know that so many people would be benefited by this bridge

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5 Less Known Activities You Can Actually Fund Through Bank Loan

Here are the lesser-known expenses that you can fund with the help of bank loans

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Bank Loan
There are 5 Less Known Activities You Can Actually Fund Through Bank Loan. Pixabay

Unplanned expenses can crop up anytime in your life. With a fixed amount of salary, sometimes you are left without savings for an unforeseen expense. However, with numerous loan options available from all sizes of banks, you can relax and take a deep breath. 

In today’s world, there is a variety of loan options offered by financial institutions, such as personal loan, car loan, education loan, house loan, and so much more. Given the factor that it is not always necessary that you need to go for a loan because you want to buy a car or a house. Here are the lesser-known expenses that you can fund with the help of bank loans: 

1 Planning a Family Vacation

It is said that the best travel experiences are unplanned. However, when you make random family vacation plans, you don’t always have enough money kept aside for it. Catering to such needs, there is an ample number of banks that offers personal loan for planning a family vacation. These loans provide a lower interest rate than that of any credit card. So, if you are planning to go for that trip that you have been preparing for so long, taking a loan from a bank is your best bet.

Bank Loan
However, with numerous options from Bank Loans, you can relax and take a deep breath. Pixabay
  1. Funding a Wedding

In India, weddings are considered a matter of pride. You love to go big and plan a spectacular big fat wedding. However, big celebrations often cost big money. The day to day expenses makes it impossible for you to stop and think about saving for your such expenses. So, what do you do when you go across your wedding budget? It’s simple; you can take out a loan to fund your wedding expenses. 

The best part of taking personal loans for a wedding is that you can repay the loan in inexpensive Equated Monthly Instalments (EMIs) over a flexible tenure of your choice. You can compare the EMI on an online EMI calculator to get a fair understanding of the ratio of principal interest to the interest due, based on the tenure and the interest rates.  

  1. Renovation of Home 

If you are a homeowner, the chances are that with time they’ll need repairs. Though, unfortunately, most of the upgrades come along with a hefty price tag. To ease this issue, you can go for a personal loan offered by reputed financial institutions like Axis Bank. First, make a list of the renovations that are required and the amount of money that you will need for the same. Then, with the help of an EMI calculator, you can evaluate the amount that needs to be paid through the EMI and let you make an informed decision about the loan. 

Bank Loan
However, mutual funds Investment with a Bank Loan can be risky as the returns are market linked. Pixabay
  1. Investing in Mutual Funds

You must have heard the financial lingo “invest a loan,” which means that you take a loan from the bank to invest in mutual funds. Taking a loan to invest in mutual funds can be fruitful in many parts like you can have a higher return on investment of the loan as opposed to a lower risk level of investment. However, mutual funds Investment with a loan can be risky as the returns are market linked. Therefore, you need to assess your risk tolerance and start by investing small amounts in different fund options. You can invest in SIP after calculating the monthly SIP amount using online SIP calculator and get good returns. When you keep such instances aside, investment is one of the lesser-known activity that can be funded by a bank loan.

ALSO READ: Hip and Knee Steroid Inections can be Harmful

  1. Pay the Credit Card Bill

Indians have made the usage of credit card an essential part of their life. There are times when you need money to buy a gadget or a home appliance on an urgent basis. You might not have savings to match such emergencies and end up using your credit card. At the end of the month, you must clear your credit card bill, but you do not have enough in your account for the same. For such instances, you can take a personal loan to pay your credit card bills.