Home / Business / Macro

AIIB, India sign $329m loan agreement

Xinhua | Updated: 2017-08-05 17:08

SRINAGAR, Indian-controlled Kashmir - India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for providing loan of $329 million to improve rural road connectivity in western state of Gujarat, officials said Saturday.

"The loan and project agreements for AIIB lending of $329 million for Gujarat rural roads project have been signed between the government of India, government of Gujarat and the AIIB yesterday in New Delhi," a finance ministry official said. "The objective of the project is to improve the rural road connectivity and accessibility in rural areas of Gujarat.

According to officials the project would benefit about 8 million people in the state by providing all weather road connectivity to 1,060 villages in 33 districts.

The project would envisage constructions and up-gradation of non-plan roads (NPRs), besides up-gradation of planned roads.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349