NDB fires funds for 1500-km rural roads

    New Development Bank
    Making it as the first funding for the country’s Road Sector, loan agreement between India and newly created New Development Bank, NDB, for the financing of the road projects in Madhya Pradesh has been signed. The loan agreement was signed by Joint Secretary in the Department of Economic Affairs (DEA), Raj Kumar, and Vice President and Chief Operating Officer of the New Development Bank, Xian Zhu. While the state was represented by the Principal Secretary of Public Works Department and Manish Rastogi, Managing Director of Madhya Pradesh Road Development Corporation (MPRDC), Pramod Agrawal. The Project is aimed at upgrading major district roads in the state to improve connectivity of the interior areas with the national and state highway networks. The project included upgrading, rehabilitation or reconstruction of district roads to intermediate lane, all-weather standards with road safety features and improved road asset maintenance & management.
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