Quick Summary
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. 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
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FAQ :
The Government of India and the New Development Bank (NDB) have signed loan agreements of up to USD 323 million each, totalling USD 646 million for the two projects.
The projects will upgrade both the State Highway Network and the District Road Network in Andhra Pradesh.
A total of 1,600 km of State Highways and 1,400 km of district roads will be widened to double lanes.
The projects are expected to improve mobility, connectivity to socioeconomic centres, transport efficiency, road safety, riding quality, and provide all-weather accessibility.
The Government of Andhra Pradesh will implement the projects through its Roads and Buildings Department.
The tenor of each loan is 32 years, which includes a moratorium period of 5 years.
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