NDB signs $323 million loan agreements for two road projects in Andhra Pradesh

The New Development Bank (NDB) has signed loan agreements worth $646 million with the centre and the Andhra Pradesh government for the AP Mandal Connectivity and Rural Connectivity Improvement Project (APMCRCIP) and the AP Roads and Bridges Reconstruction Project (APRBRP). This is the biggest externally aided road project to be taken up in Andhra Pradesh. Funds worth Rs 32 billion each will be spent on the two projects – APMCRCIP and APRBRP – with financial assistance from the NDB (70 per cent share) and the state government (30 per cent) for providing double lane connectivity from the district headquarters to the mandal headquarters and from the mandal headquarters to the adjoining mandal headquarters.