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AP To Receive Rs 6,000 Crore Loan From NDB
By: Tupaki Desk | 6 Sep 2019 6:54 AM GMT
Here comes a good news for the AP Government...The New Development Bank (NDB) is keen to sanction Rs 6,000 crore loan to Andhra Pradesh. This indication was given by NDB Vice President N Jong And Project Head Ninad Rajpurkar who met CM Jaganmohan Reddy on Thursday.
Loan provided by the New Development Bank will be used for Social Infrastructure Projects in Andhra Pradeh. The amount borrowed by AP Government can be repaid within 32 years.
AP Government sought additional Rs 25,000 crore from the New Development Bank for infrastructure development and supply of clean drinking water. NDB is yet to take a call on this proposal from CM Jagan.
The Shanghai-based New Development Bank was established in 2015 by the BRICS Nations. Rs 25,000 crore out Rs 75,000 crore it sanctioned to various projects across the World were given to India.
Loan provided by the New Development Bank will be used for Social Infrastructure Projects in Andhra Pradeh. The amount borrowed by AP Government can be repaid within 32 years.
AP Government sought additional Rs 25,000 crore from the New Development Bank for infrastructure development and supply of clean drinking water. NDB is yet to take a call on this proposal from CM Jagan.
The Shanghai-based New Development Bank was established in 2015 by the BRICS Nations. Rs 25,000 crore out Rs 75,000 crore it sanctioned to various projects across the World were given to India.
