NDB Board of Directors approves USD 300 mln to the Republic of India for Assam Bridge Project and NDB reaches USD 10 bln of approved loans for infrastructure and sustainable development projects
With Board of Directors approval of a loan of USD 300 million to the Republic of India for the Assam Bridge Project, the NDB’s portfolio has reached 38 loans for infrastructure and sustainable development projects from all member countries of the Bank. In its fourth year of operations, the Bank’s cumulative loan approvals reached a milestone figure of USD 10 billion.
Assam Bridge Project
The NDB will provide a loan of USD 300 million to the Republic of India for the Assam Bridge Project aimed at improving transport network connectivity across the Brahmaputra River in Guwahati and enhancing mobility and accessibility in the region. The contents of the proposed Project include the construction of a six-lane-bridge over the Brahmaputra River and approach roads in the north and south banks with the total length of approximately 8 km.
The NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development. To fulfill its purpose, the NDB will support public or private projects through loans, guarantees, equity participation and other financial instruments. According to the NDB’s General Strategy, sustainable infrastructure development is at the core of the Bank’s operational strategy for 2017-2021. In August 2018, the Bank received AA+ long-term issuer credit ratings from S&P and Fitch.