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.

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