NDB to fund for two externally aided R&B projects of Rs 3,200cr each

Amaravati: The New Development Bank evinced interest to fund for development of Amaravati capital. It may be noted that the Roads and Buildings Department has proposed two projects including AP Mandal connectivity and rural connectivity improvement project(APMCRCIP)  and AP roads and bridges reconstruction project(APRBRP)  to New Development Bank (NDB) under externally aided projects and the bank in principle agreed to finance the proposed projects. The cost of each project is Rs 3,200 cr with the loan assistance of 70:30 sharing.

The AP mandal connectivity and rural connectivity improvement project is proposed to improve major district roads. The APRBRP is proposed to improve state highways including 792 km length double lane connectivity from district head quarters to mandal head quarters, 2,219 km double lane connectivity from mandal Headquarters to adjoining mandal headquarters. Construction of 132 number of bridges and  reconstruction of 300 weak and narrow bridges.

Administrative sanction for the two projects with an estimated cost of Rs 3,200 cr each is under process and will be accorded soon.

The New Development Bank vice-president and cooperation officer Xian Zhu, Executive assistant to Vice-president Ningqian Zhang, project financing officers Jianshiyao, Garvit Sah and Ninad Rajpurkar met Chief Minister at his residence in Undavalli here today and evinced interest to fund for Amaravati capital and R&B projects.

Speaking on the occasion Chief Minister N Chandrababu Naidu explained on the advantages and  achievements of the state including in Ease of doing business, employability and several other sectors. He said that he want to improve quality of life and make the state number one in the country. He said priority is being given to innovation and technology in all the sectors to emerge as number one in the country. The United Nations also appreciated the efforts of state in Zero budget natural farming.

Praising the efforts of Chief Minister , NDB vice-chairman xian Zhu said that the NDB is interested in funding for the projects in the state.

Special chief secretary (R&B) Neerabkumar Prasad explained on the proposals of R&B. Secretary, Finance Peeyush Kumar,Secretary to CM A Rajamouli,  JFA, Finance Surenda Datti, Chief engineer (R&B) NABARD P Srimannarayana, Dy Chief enginer V Koteswara Rao, Neeraj Aadya consultant R&B dept were present.