Shanghai’s NDB commits $500 Million loan for Gujarat’s infrastructure development

GANDHINAGAR : In a significant stride towards bolstering Gujarat’s infrastructure, the Shanghai-based New Development Bank (NDB) inked an agreement during the Vibrant Gujarat Summit 2024, pledging a substantial $500 million loan to the Gujarat government. This financial infusion is earmarked for the Mukhayamantri Gram Sadak Yojana, a pivotal project in the state.

Project Focus: Mukhayamantri Gram Sadak Yojana

The agreement solidifies NDB’s commitment to supporting the roads and buildings department of the Gujarat government. The allocated funds will facilitate the construction of approximately 1,200 kilometers of roads, a critical initiative for enhancing connectivity and accessibility across the state.

Holistic Development Approach

Beyond the financial support, NDB is poised to contribute knowledge and expertise. The focus extends to reinforcing the rural road network through the adoption of cutting-edge technology, environmentally conscious practices, and the implementation of safer road designs. This multifaceted approach aligns with the broader goals of sustainable development and inclusive growth in Gujarat.

Technological Advancements and Environmental Safeguards

NDB’s involvement will not be limited to financial assistance but will also extend to providing knowledge support. By leveraging advanced technologies and adhering to environmentally friendly practices, the project aims to set new benchmarks in infrastructure development, ensuring a harmonious blend of progress and sustainability.