BRICS Approves USD 525 Million Loan for Infra Projects in MP

The Board of Directors of the NDB approved a USD 350 million loan for the Major District Roads Project II of Madhya Pradesh and USD 175 million for building and upgrading 350 bridges. The loan will be used by the Indian government for lending to the Madhya Pradesh government for rehabilitating major district roads with a total length of about 2,000 km to improve the connectivity of the rural interior with the national and state highway networks, a press release issued by the Shanghai-based bank said. The NDB will also provide a USD 175 million loan to the Madhya Pradesh Bridges Project, under which 350 bridges will be built or upgraded.