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Maharashtra plans to take 15,000 cr loan from ABD to build roads: Chavan

Maharashtra PWD Minister Ashok Chavan on Monday said his government was planning to obtain loans to the tune of Rs 15,000 crore from the Asian Development Bank at a nominal rate to build roads and clear the work backlog in the state. Speaking to reporters here, Chavan said the backlog in road work had gone up and the funds required would be more than what the state budget has allocated. The MVA government is planning to take a loan of Rs 15,000 crore from the Asian Development Bank at a nominal rate of interest ranging between 1 per cent and 1.5 per cent, he said.

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