Two Mega Projects In AP At Rs 6400 Crore Jan 07, 2021, 18:20 IST
Amaravati: Andhra Pradesh government has embarked on the largest EAP in roads sector by collaborating with the New Development Bank at an estimated cost of Rs 6400 Crore to improve rural and mandal connectivity.
Under AP Mandal and Rural Connectivity Improvement Project (APMCRCIP) and AP Roads and Bridges Reconstruction Project (APRBRP) roads will be extended from district centers to mandal centers and from mandal centers to another neighboring mandal in two lanes, where a total of 3104 km of roads (highways) will be widened and constructed and 479 bridges will be rebuilt.
During a review meeting on these two mega projects held here on Thursday, Chief Minister YS Jagan Mohan Reddy had directed the officials to ensure that the construction of roads gets completed expeditiously without compromising on the quality.
The Andhra Pradesh government will implement the projects through the Roads and Buildings Department. Andhra Pradesh gets $646 mn push from NDB to bolster state highways, district roads | Photo Credit: Representative Image
New Delhi: The Central government, Andhra Pradesh state government and the New Development Bank (NDB) today signed loan agreements of up to $323 million each for two projects.
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 state highway network. The second project – Andhra Pradesh Mandal Connectivity and Rural Connectivity Improvement Project – comprises widening 1,400 km of district roads to double lane and reconstructing dilapidated bridges on the district road network.
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Centre, NDB sign $1,000 million loan pact to support India s economic recovery from COVID-19 pandemic
The loan amount will be used to fund expenditures on rural infrastructure and rural employment generation under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), in order to revive rural economy December 16, 2020 / 06:51 PM IST
A loan agreement of $1,000 million was signed on December 16 between the government and the New Development Bank for funding expenditures on rural infrastructure and rural employment generation under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
The agreement was signed by Baldeo Purushartha, Joint Secretary, Department of Economic Affairs, Ministry of Finance and Xian Zhu, Vice President and Chief Operations Officer on behalf of the NDB, the statement said.
India signs $1 billion loan with NDB to support MGNREGS and rural infrastructure
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Synopsis
The loan will aid India’s economic recovery from the pandemic “by supporting expenditures on rural infrastructure related to natural resource management (NRM) and rural employment generation under Government of India’s Mahatma Gandhi National Rural Employment Guarantee Scheme,” a finance ministry statement said.
Agencies
The agreement was signed by Baldeo Purushartha, joint secretary, Department of Economic Affairs and Xian Zhu, vice president, of the NDB.
The government signed a loan agreement worth $1 billion with the New Development Bank (NDB) to support the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and India’s rural infrastructure, on Wednesday.