The Asian Development Bank (ADB) and the Indian government on Monday signed an agreement for USD 177 million loan to upgrade 450 kilometres of state highways and major district roads in the state of Maharashtra.

The signatories to the Maharashtra State Road Improvement Project were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance, who signed for the Government of India, and Kenichi Yokoyama, Country Director of ADB's India Resident Mission who signed for ADB.