Government of India & NDB sign two loan agreements upgrading State Highway Network and District Road Network in Andhra Pradesh
The Government of India, the Government of Andhra Pradesh, and the New Development Bank (NDB) today signed loan agreements of up to USD 323 million each for two projects.
About New Development Bank (NDB)
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. The Bank's purpose is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries.