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India seeks $2 billion in loans from BRICS bank

NDB has signed its first agreement for providing a loan to finance district roads in Madhya Pradesh

Arun Jaitley, K V Kamath
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Finance Minister Arun Jaitley (left) with New Development Bank (NDB) Chairman K V Kamath at the opening ceremony of the NDB Second Annual Meeting in New Delhi on Saturday

Indivjal Dhasmana New Delhi
India had placed a request with the New Development Bank (NDB), or BRICS Bank, to fund $2 billion in various projects, Finance Minister Arun Jaitley said on Saturday.
 
“I hope this will be taken up by the board (of the NDB) expeditiously,” said Jaitley, who is India’s governor in the NDB, at the second annual meeting of the bank.
 
He said India would work with the NDB to develop a strong shelf of projects in smart cities, renewable energy, urban transport, clean coal technology, solid waste management and urban water supply.
 
The NDB has signed its first