Imphal, 13 May 2018 (Evening News ) : Country head of India, Asian Development Bank (ADB), Kenichi Yokoyama asserted that delay in releasing funds to contractors are hampering progress in Asian Development Bank (ADB) funded projects in Manipur. Speaking to a selected group of senior editors, Kenichi said he was specially in Manipur to see what was causing the delay in projects being funded by the bank. He said he has visited the work sites and also inspected roads and have studied the project management system. Kenich said the works and implementation methods are found to be strong , however, lamented that fund release by the government was slow. He intimated that Chief Minister N Biren and Chief Secretary have assured that the matter would be looked into. The Head pointed out on how the project can progress when contractors are not paid as long as six months. He added that  ADB is currently funding three road projects namely Tupul to Bishnupur, Thoubal to Kasom Khullen and Imphal to Tamenglong via Kangchup. He told the editors that the Bank is also ready to fund the Imphal-Moreh stretch of the Asian Highway and the DPR is ready for the same. Kenichi said the bank is ready to sign the agreement with Manipur government to provide 150 million dollar for Imphal-Moreh stretch this year. He said, Imphal is very critical in connecting India and Bangladesh to the South east Asia and that they are very keen to provide fund however quick decision needs to be taken. He stated that ADB has 400 million dollar in hand.Responding to the question on the ambitious government plan for a ring road around Imphal, he said, ADB is also ready to fund the project, however, the Government needs to send a fresh proposal.