NDB inks $323-mn tripartite pact to finance road projects

The Centre, Andhra Pradesh Government, and the New Development Bank (NDB) have signed a tripartite loan agreement of $323 million each for two projects. The first project – Andhra Pradesh Roads and Bridges Reconstruction Project – covers widening 1,600 km of State Highways to double lanes and reconstructing dilapidated bridges on the State Highway network. The second project – Andhra Pradesh Mandal Connectivity and Rural Connectivity Improvement Project – comprises widening 1,400 km of district roads to double lanes and also rebuilding dilapidated bridges on the district road network. The state government will implement the projects through its Roads and Buildings Department. The two projects are expected to improve mobility and connectivity to the socioeconomic centres, enhance transport efficiency, improve road safety and riding quality and will also provide all-weather accessibility for the State's road users. The projects would increase the roads' daily traffic capacity to 15,000 passenger car units, which is expected to meet the projected traffic growth over the next 20 years. The agreement was signed by Baldeo Purushartha, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India; M T Krishna Babu, Principal Secretary, Transport, Roads and Buildings Department on behalf of AP Government; and Xian Zhu, VP, and Chief Operations Officer on behalf of NDB.