New Development Bank (NDB) is all set to finance infra projects worth ₹6,000 crore in Andhra Pradesh, said VP, NDB, N Zhang and Project Head Rajpurkar in a joint statement. A delegation from the Bank called on the CM and informed that the loan is being cleared after the board meeting. It will be invested for road development and other infrastructure projects in rural areas. Out of the total ₹6,000 crore, 30 percent has to be borne by the state government and the loan is to to be repaid in 32 years. The state CM has sought an additional ₹25,000 crore as loan from the NDB to enable the State to complete its infra projects including social infrastructure, hospitals and supply of clean drinking water. Shanghai based NDB set up in 2015 by BRIC nations (Brazil, Russia, India, China and South Africa) and has lent over ₹75,000 crore to various projects across the world, with ₹25,000 crore to India alone.
📅Published on:
20 September 2019
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