NDB offers a USD 500 million loan For Gram Sadak Yojana in Gujarat

Gandhinagar : The Mukhyamantri Gram Sadak Yojana in Gujarat will receive a $500 million loan from the New Development Bank (NDB).

The project loan agreement was exchanged between the New Development Bank (NDB) and the road construction department of the state government in the presence of Gujarat Chief Minister Bhupendra Patel on Friday.

The NDB will offer knowledge support to the state road building department, focusing on enhancing rural roads, incorporating new technology in road construction, promoting environmental protection, and implementing safe road design.

The NDB is set to assist the state road construction department with various materials such as geosynthetics, geotextiles, geogrids, and lime stabilization, covering different stretches totalling approximately 1,200 km. Additionally, under this initiative, all-weather roads will be constructed with a focus on environmental protection.

During a discussion with Chief Minister Bhupendra Patel, topics such as green hydrogen, climate financing, and the services sector in Gujarat were deliberated upon by Vice-President and COO of the New Development Bank, Vladimir Kazbekov, and the Director General of the Indian Regional Office of the NDB, D.J. Pandian.

Kailashanathan, the Chief Principal Secretary to the CM, Raj Kumar, the Chief Secretary, Shri Pankaj Joshi, the Additional Chief Secretary to the CM, J.P. Gupta, Additional Chief Secretary, Finance Department, Senior Secretaries, and other officials from both the NDB and the Roads and Building Department of the State Government were present at the meeting.