AIIB Lends $329 Million To Build Roads To 4,000 Villages In Gujarat, India

The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved a loan of US$329 million to build access roads to approximately 4,000 villages in the Indian state of Gujarat.

The project will include the construction and upgrade of district and farm-to-market roads, providing rural families greater access to schools and hospitals. It will also help integrate rural populations, tribal villages, businesses and industry with the national and state economy.

"This project will directly contribute to the economic development of the State of Gujarat, and India, by improving the mobility of the rural population,” said D.J. Pandian, vice president and chief investment officer at AIIB. “By integrating isolated and poor rural populations with the rest of the state, and improving their access to critical social services, such...

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