Risk-averse bankers slowing construction of India's infra projects: Gadkari

State-run National Highways Authority of India last month borrowed 250 billion rupees ($3.45 billion) from the State Bank of India, the country's largest lender

Risk-averse bankers are slowing construction of infrastructure projects in India, Nitin Gadkari, the country’s minister for road transport and highways, said.

Loans to road contractors and bank guarantees for projects have dried up, threatening to stall India’s plans to build more than 84,000 kilometers (52,195 miles) of roads by 2022, Gadkari said, addressing the Bloomberg India Economic Forum on Tuesday.

“For the sake of industry, sake of investment, sake of contractors, creating jobs, for the sake of economy, we need positive support from banks,” he said. “They are giving support but it is a slow process.”

India’s plan to