New Development Bank to provide $500 million loan for Gram Sadak Yojana in Gujarat

Gandhinagar: New Development Bank (NDB) will provide a loan of five million dollars for the Chief Minister’s Gram Sadak Yojana in Gujarat.

In the presence of Chief Minister Bhupendra Patel, the project loan agreement was exchanged between the NDB and the road construction department of the state government.

The NDB will offer knowledge support to the state road-building department for the improvement of rural roads and the adoption of new technology in road construction, environmental protection, and safe road design.

The NDB will support the state road-building department in the use of geosynthetics, geotextiles, geogrids, lime stabilization, etc., covering approximately 1,200 km. Additionally, perennial roads will be constructed under this scheme, with a focus on environmental protection.

During the meeting with Chief Minister Bhupendra Patel, Vice President of NDB Vladimir Kazbekov, and Director-General of the Indian Region Office of the New Development Bank DJ Pandian discussed green hydrogen, climate financing, and service sectors in Gujarat.

Principal Secretary to Chief Minister K. Kailasanathan, Principal Secretary Rajkumar, Additional Chief Secretary Pankaj Joshi, J.P. Gupta, Senior Secretaries, and officials of NDB and the Roads and Buildings Department of the State Government were present at this occasion. DeshGujarat