• Home
  • About
  • Contact
  • ePaper
Sunday, February 5, 2023
No Result
View All Result
Kashmir Digest
  • Home
  • News
    • Local
    • National
    • Regional
    • World
  • Business
    • Economy
    • Finance
    • Tourism
    • Startup
    • Marketing
  • Ed-Op
    • Editorial
    • Opinion
    • Blog
  • Health
  • Sports
    • Cricket
    • Football
    • Other
  • Science and Tech
  • Show Biz
  • Home
  • News
    • Local
    • National
    • Regional
    • World
  • Business
    • Economy
    • Finance
    • Tourism
    • Startup
    • Marketing
  • Ed-Op
    • Editorial
    • Opinion
    • Blog
  • Health
  • Sports
    • Cricket
    • Football
    • Other
  • Science and Tech
  • Show Biz
No Result
View All Result
Kashmir Digest
No Result
View All Result
Home Business

NDB to scale up infrastructure & development finance in India

by Indo-Asian News Service
December 10, 2022
in Business, Finance
0
NDB to scale up infrastructure & development finance in India
Share on FacebookShare on TwitterWhatsappTelegram

New Delhi, Dec 9 (IANS) After successfully financing a $500 million road infrastructure development project in Madhya Pradesh, the New Development Bank (NDB) plans to scale up its infrastructure and development finance in India for a sustainable future.

The NDB established in 2015 by BRICS countries — Brazil, Russia, India, China and South Africa, has invested in 21 projects worth $7.2 billion in India since 2016 which is expected to benefit over four million people.

The $500 million Madhya Pradesh Major District Road Project (MPMDRP), funded $350 million by the NDB and $150 million by the state government, aimed at upgradation of major district roads in the state to improve connectivity in the interior areas of the state with the national and state highway networks, with the wider aim of promoting economic and social transformation.

Further, the MPMDRP has effected a positive and transformational changes in people’s lives across 434,000 rural communities by improving local livelihoods and access to clinics, hospitals, schools, colleges, markets, businesses, and job opportunities in the state, said a new independent evaluation office report of the NDB here.

Talking to IANS, Ashwani Muthoo, Director General of the NDB Independent Evaluation Office, said: “We achieved our goals, including over 1,500 km of improved road, providing better access and connectivity for villages along the route, and 130 road accident black spots eliminated. Further, there may be opportunities to link roads development with rail and even water projects in the future. There also needs to be a plan to ensure the road network is aligned with the National Logistics Policy.”

He pointed out the areas in need of improvement, including simplifying future project design and ensuring more technical assistance to project management units during implementation.

Noting that the transport sector in India has seen a surge in recent years, and roads have been recognized as a crucial component in socio-economic development, Muthoo said one key innovation of this first NDB-financed project in india was the partnership developed with private sector contractors, who are responsible for maintenance of the roads for the next five years.

Commenting on the evaluation findings, Dr. D.J. Pandian, Director General of the NDB Indian Regional Office, said: “Since the beginning of partnership between the NDB and India seven years ago, substantial achievements have been made; yet as the evaluation shows, there are still important challenges that require us to further strengthen our joint work to improve the bank’s operational and strategic performance in the country.”

One of the main evaluation recommendations was to develop a country strategy to guide the NDB-India partnership and programming moving forward. Another is to prepare a multimodal transport strategy/plan.

Moreover, the evaluation highlighted the need to conduct more robust supervision and implementation support, and closely monitor follow-up to supervision recommendations to allow for mid-course adjustments for better outcomes at project completion.

The NDB was set up with a view to mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development.

It launched its Indian Regional Office (IRO) in Gujarat International Finance Tec-City (GIFT City) this year.

The IRO works closely with the Central government, public and private sector agencies, and other relevant stakeholders to identify projects that have strong development impact, and which are aligned with the national development priorities.

Related

Indo-Asian News Service

Related Posts

Over 60K startup employees stare at job loss as India prepares for 200 unicorns
Business

Close to 1 lakh tech employees lost jobs in Jan alone globally

February 4, 2023
Business

Amid Adani group row, RBI says banking sector remains resilient

February 4, 2023
Budget Effect: About 15% premium impact on some private life insurers
Business

Budget Effect: About 15% premium impact on some private life insurers

February 3, 2023
Next Post
Sitharaman to present statement on demands for grants for current fiscal in LS

Sitharaman to present statement on demands for grants for current fiscal in LS

US Congress passes bill on same-sex marriage

US Congress passes bill on same-sex marriage

Xi Jingping eyes first in-person summit with Biden in November

Discussions on to establish a Chinese-Gulf free trade zone, says Saudi Crown Prince

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Aadhaar authentication mandatory in E-auction of PM mementos

5 months ago
TCS posts Rs 9,478 cr profit, interim dividend of Rs 8 per share

TCS posts Rs 9,478 cr profit, interim dividend of Rs 8 per share

7 months ago
Vaccination is key for long healthy life for all: Experts

Covid vaccines manufactured by third parties, govt can’t be held liable for deaths: Centre to SC

2 months ago
Russia’s invasion of Ukraine causing massive humanitarian crisis: McKinsey & Co

Russia’s invasion of Ukraine causing massive humanitarian crisis: McKinsey & Co

8 months ago

Categories

  • Big Story
  • Blog
  • Business
  • Cricket
  • Economy
  • Ed-Op
  • Editorial
  • Finance
  • Football
  • Health
  • Latest News
  • Local
  • Marketing
  • National
  • News
  • Opinion
  • Other
  • Politics
  • Regional
  • Religious
  • Science and Tech
  • Show Biz
  • Sports
  • Startup
  • Top News
  • Tourism
  • World
No Result
View All Result

Highlights

Anti-encroachment drive intensified in Kashmir: Officials

LG assures no harm to common man in ongoing anti-encroachment drive in J-K

People question LG’s assurances, say poor targeted in anti-encroachment drives

Formal order should be issued to spare poor from anti-encroachment drive in JK: Ghulam Nabi Azad

J-K admin keeping watch, not Joshimath-like situation: L-G over cracks in structures in Doda

Opposition parties running away from discussion in Parliament: Union Minister Anurag Thakur

Trending

Need for stormwater management
Ed-Op

Electricity Crises: Where are We Lacking? 

by KD Desk
February 5, 2023
0

Even though there are numerous and limitless natural resources that may be used to increase the capacity...

Western Air commander reviews security scenario along northern borders

Western Air commander reviews security scenario along northern borders

February 5, 2023
Airfield security review in Jammu: IAF officer urges people to promptly report any suspicious activities

Airfield security review in Jammu: IAF officer urges people to promptly report any suspicious activities

February 5, 2023
Anti-encroachment drive intensified in Kashmir: Officials

Anti-encroachment drive intensified in Kashmir: Officials

February 5, 2023
LG assures no harm to common man in ongoing anti-encroachment drive in J-K

LG assures no harm to common man in ongoing anti-encroachment drive in J-K

February 5, 2023
Kashmir Digest

©Kashmir Digest -

Navigate Site

  • Home
  • About
  • Contact
  • ePaper

Follow Us

No Result
View All Result
  • Home
  • News
    • Local
    • National
    • Regional
    • World
  • Business
    • Economy
    • Finance
    • Tourism
    • Startup
    • Marketing
  • Ed-Op
    • Editorial
    • Opinion
    • Blog
  • Health
  • Sports
    • Cricket
    • Football
    • Other
  • Science and Tech
  • Show Biz

©Kashmir Digest -