NDB $1.4-b loan for in­fra projects

The Hindu Business Line - - FRONT PAGE - PTI

Ahead of the BRICS sum­mit, the New Devel­op­ment Bank (NDB) of the five-mem­ber group to­day ap­proved $1.4 bil­lion loans for sus­tain­able devel­op­ment projects in China, In­dia and Rus­sia. The Board of Direc­tors of the Bank has ap­proved four in­fra­struc­ture and sus­tain­able devel­op­ment projects in the three coun­tries, an NDB press re­lease said to­day. For In­dia, the Bank has ap­proved $470 mil­lion loan for Madhya Pradesh’s Multi-Vil­lage Ru­ral Drink­ing Wa­ter Sup­ply Scheme Project. “The four projects ap­proved to­day are fully in line both with na­tional devel­op­ment agenda in our mem­ber coun­tries and the NDB’s man­date of mo­bil­is­ing re­sources for in­fra­struc­ture and sus­tain­able devel­op­ment in BRICS and other emerg­ing economies and de­vel­op­ing coun­tries,” said the Bank’s Pres­i­dent KV Ka­math.

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