Asian Infra Investment Bank to Invest $ 140 Million in Rural India

Asian Infra Investment Bank to Invest $ 140 Million in Rural India

Approximately 1.5 Million rural residents in State of Madhya Pradesh are going to directly benefit from improved livelihoods, education and mobility with the $ 140-Million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) in a Meeting held recently in Beijing, the government said.

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The Asian Infrastructure Investment Bank (AIIB) has decided to invest $ 140-Million to improve Rural Connectivity in India.

Approximately 1.5 Million rural residents in State of Madhya Pradesh are going to directly benefit from improved livelihoods, education and mobility with the $ 140-Million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) in a Meeting held recently in Beijing, the government said.

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

Livelihoods of the rural population will be improved by expanding income earning opportunities through better farm-to-market road connections.

Moreover, more children are expected to enroll in higher education programs and school attendance is expected to further improve. The road maintenance pilot under the Project will employ more women, contributing to gender equality and income generation.

“Promoting sustainable growth in India through investment in rural infrastructure will require substantial financing,” said AIIB Vice President and Chief Investment Officer D.J. Pandian.

“I am glad that AIIB’s participation in this project will contribute to reducing this financing gap and enhance overall development in the region,” he added.

The project also aims to improve durability and accessibility, and enhance resilience to climate change of the gravel surfaced rural road in State of Madhya Pradesh while building the capacity of the State to manage its rural road network and road safety.

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