CCEA approves SASEC Road Connectivity Investment Program – Tranche 2
The Cabinet Committee on Economic Affairs (CCEA) has given its approval for upgradation and widening of 65 kms of Imphal-Moreh Section of NH-39 in Manipur.
The Imphal-Moreh Section is a vital link in providing road connectivity up to Thailand and Malaysia. It will boost trade, commerce and tourism in the region.
The project is being developed with Asian Development Bank’s (ADB) loan assistance under the South Asian Sub-Regional Economic Cooperation (SASEC) Road Connectivity Investment Program. It aims at upgradation of road infrastructure in Bangladesh, Bhutan, Nepal and India (BBIN) in order to improve the regional connectivity.
The project corridor is also a part of the Asian Highway No. 01 (AH01). It will fulfil India’s “Look East” Policy and acts as India’s Gateway to the East. Thus, it will promote and enhance trade link with South East Asia. The project will also improve connectivity between Imphal with the eastern part of Manipur which is a landlocked state with almost 90% of the area under difficult terrain.
SASEC Road Connectivity Investment Program (SRCIP)
SRCIP is a strategic initiative that aims to achieve regional integration among the members of the SASEC group by improving road connectivity within the North Bengal-North Eastern Region in India. The members of SASEC group are Bangladesh, Bhutan, India and Nepal.
Month: Current Affairs - July, 2017