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AIIB to extend $ 140 mn loan to improve rural connectivity in MP

Press Trust of India  |  New Delhi 

The (AIIB) will extend a USD 140-million loan to improve rural connectivity in

"Approximately 1.5 million rural residents in stand to directly benefit from improved livelihoods, education and mobility with the USD 140-million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank," said a statement issued by the

The project, co-financed with the World Bank, aims to improve rural road connectivity and management for residents of 5,640 villages who use the rural roads for daily activities, it added.

"Promoting sustainable growth in through investment in will require substantial financing," D J Pandian said.

Funding to this project will contribute to reducing this financing gap and enhance overall development in the region, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 21:45 IST