A loan agreement of USD 455 million was signed between the Asian Infrastructure Investment Bank (AIIB) and the Government of India for financing the Andhra Pradesh Rural Roads Projects.
These projects will connect 3,300 habitations with a population of more than 250, and benefit around 2 million people. It is the third project in Andhra Pradesh signed by the AIIB after two projects in Power Sector and Water Sector.
Source: Business Standard
Static/Current Takeaways Important for Uttarakhand District Cooperative Bank Exam:
- AIIB President: Jin Liqun, Headquarters: Beijing, China.