The Hindu Business Line
To fund 6 infra projects, govt seeks $2.4 billion from New Development Bank
The government has sought loans worth $2.4 billion from the New Development Bank for six infrastructure projects in various parts of the country.
These include a loan of $841 million for building rural roads in Bihar under the Mukhyamantri Gram Sampark Yojna, and $470 million for multi-village water supply schemes in Madhya Pradesh, Finance Minister Arun Jaitley said in reply to a question in the Lok Sabha on Friday.
In Madhya Pradesh, another $500 million has been sought for a road development programme and bridge development.
The government has sought $350 million for water projects in the desert areas of Rajasthan, while $250-million loan has been sought for Canara Bank for on-lending to renewable energy projects, the minister said.
The renewable energy projects were not specific to any States, Jaitley added.
“Posing of projects for financing by multilateral development banks, including the NDB (New Development Bank), depends on viable proposals received from the sponsoring agencies, such as State governments and Central ministries,” Jaitley said.
The New Development Bank, formerly the BRICS Development Bank, is a multilateral development bank established by BRICS members — Brazil, Russia, India, China and South Africa.