The Asian Development Bank (ADB) has approved a multi-tranche financing facility of Rs 32.42 billion for Tranches 1 and 2 under the Rajasthan State Highway Investment Program (RSHIP). The RSHIP will upgrade about 2,000 km of state highways and major district roads to two-lane or intermediate-lane standards to meet national road safety requirements. Under the first tranche, 1,000 km of state highways will be upgraded at an estimated cost of Rs 42.47 billion, of which Rs 14.26 billion will be funded by ADB. The remaining amount of Rs 18.15 billion from ADB will form a part of the project’s second tranche, which will cost around Rs 49.27 billion. The overall project is estimated to cost Rs 92.07 billion, of which the central government will contribute Rs 30.15 billion, while Rs 29.17 billion will be funded by the private sector and other concessionaires.