Rs 4,600 crore loan from NDB to AP govt for road projects including conversion of 1,600 km road into double-lane
07-01-2021 Thu 14:37
The Andhra Pradesh government has inked a Memorandum of Understanding (MoU) with the New Development Bank (NDB) for converting 1,600 km single-lane roads into double-lane roads and to lay another 1,400 km of roads for linking villages with mandal headquarters.
The NDB will provide a loan of Rs 4,600 crore to the state government. In which, Rs 2,300 crore will be spent towards widening roads and another Rs 2,300 crore for improving road connectivity between villages and mandal headquarters. The AP government has to repay the loan in 32 years.
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