SASEC Road Connectivity Investment Program

The Cabinet Committee on Economic Affairs chaired by the Prime Minister has given its approval for upgradation and widening of 65 kms of Imphal-Moreh Section of NH-39 in Manipur.
The project is being developed with ADB’s loan assistance under the South Asian Sub-Regional Economic Cooperation (SASEC) Road Connectivity Investment Program.
The project corridor is also a part of the Asian Highway No. 01 (AH01) and acts as India’s Gateway to the East. Thus trade, commerce and tourism in the region will get a boost.

Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries and strengthening regional economic cooperation.
ADB is the secretariat and lead financier of the SASEC program, which to date has supported a total of 46 projects worth $9.17 billion in transport, trade facilitation, energy and information and communications technology (ICT).
The SASEC OP, endorsed in June 2016 by the SASEC member countries, is SASEC’s first comprehensive long-term plan to promote greater economic cooperation among the member countries in the areas of transport, trade facilitation, energy, and economic corridor development.
Bringing regional cooperation to a higher level, the SASEC OP plans to extend physical linkages not only within SASEC but also with East and Southeast Asia by the next decade.

Source:PIB

About US