India and NDB signs USD 646 million loan agreement for Andhra Pradesh
The New Development Bank (NDB) has signed loan agreements worth USD 646 million with the Indian government for two road projects in Andhra Pradesh. Each project costs $ 323 million. These projects will improve mobility and connectivity with socio-economic centers, improve transport efficiency, improve road safety and driving quality, and provide road users with state accessibility in all weathers.
The first project is the Andhra Pradesh Roads and Bridges Reconstruction Project. It includes the widening of 1,600 km of national highways to two lanes and the reconstruction of dilapidated bridges on the national road network.
The second project is Andhra Pradesh Mandal Connectivity and Rural Connectivity Improvement Project. It includes the widening of 1,400 km of two-lane district roads and the reconstruction of dilapidated bridges on the district road network.