AIIB to provide $455 million loan for Andhra Pradesh Rural Roads project

The Asian Infrastructure Investment Bank (AIIB) will provide a loan of $455 million to finance the Andhra Pradesh Rural Roads Project, which will connect about 3,300 habitations with a population of more than 250 and benefit around 2 million people. The objective of the project is to improve road transport connectivity in previously unserved communities by providing all-weather rural roads in all 13 districts of Andhra Pradesh. Under the project, there are plans to construct rural roads to provide first connectivity, and construct cross-drainage works and bridges to complete missing links and structures. It is the third project being financed by AIIB in the state, the other two being in the power and water sectors.

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