NDB extends $646 million for upgrading highway network, district roads in Andhra1 min read . Updated: 06 Jan 2021, 07:32 PM IST
- The Government of Andhra Pradesh will implement the Projects through the Roads and Buildings Department
- The projects are aimed at widening of roads and reconstructing dilapidated bridges
The New Development Bank (NDB) has decided to lend $323 million for two projects to be taken up in Andhra Pradesh, the government said on Wednesday.
An agreement in this regard has been signed by the central government, Andhra Pradesh government and NDB.
The first project – Andhra Pradesh Roads and Bridges Reconstruction Project – comprises widening 1,600 km of state highways to double lane and reconstructing dilapidated bridges on the network.
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With the second projects – Andhra Pradesh Mandal Connectivity and Rural Connectivity Improvement Project – the state will widen 1,400 km of district roads to double lane and spruce up the bridges as well.
The Government of Andhra Pradesh will implement the Projects through the Roads and Buildings Department.
"The two projects are expected to improve mobility and connectivity to the socioeconomic centres, enhance transport efficiency, improve road safety and riding quality, and provide all-weather accessibility for the state's road commuters. The projects would increase the roads' daily traffic capacity to 15,000 passenger car units, which is expected to meet the projected traffic growth over the next 20 years," said the ministry of finance in a statement.
The agreement was signed by Baldeo Purushartha, the joint secretary of Department of Economic Affairs, on behalf of the central government, MT Krishna Babu, principal secretary of Transport, Roads and Buildings Department on behalf of the Andhra Pradesh government and Xian Zhu, Vice President and Chief Operations Officer of NDB.
"NDB funding shall help to bridge the funding gap for road infrastructure development and will support the Government of Andhra Pradesh in its goal to enhance connectivity between socioeconomic centres" said Xian Zhu.
The NDB was established based on the Inter-Governmental agreement among the BRICS countries (Brazil, the Russian Federation, India, China, and South Africa) signed on July 15, 2014.