The New Development Bank (NDB) has approved up to 395 million dollars to finance an elevated corridor project in Hyderabad, India.
TV BRICS, a NAN partner, reported on Friday that the funding would be used to upgrade urban transport infrastructure and expand the capacity of major highways in the city.
The project includes the construction of high-speed elevated corridors along National Highway NH-44 and State Highway SH-1.
Hyderabad, the administrative centre of Telangana, has developed into a major economic and technology hub in India.
The report said rapid population growth and increased business activity had led to higher traffic volumes, putting pressure on the city’s existing road infrastructure.
The proposed corridors are expected to reduce travel times and strengthen transport connections between different parts of the city.
According to TV BRICS, the financing also underscores the NDB’s role in supporting infrastructure development across BRICS member countries.
The bank finances projects in transport, energy, urban development and other infrastructure sectors.
Edited by Halima Sheji
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