Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Wednesday announced that BRICS's New Development Bank (NDB) will extend 470 million USD to the Rural Drinking Water Scheme in Madhya Pradesh.
"BRICS Bank is extending sovereign loan of US$470 million to Rural Drinking Water Scheme in Madhya Pradesh. It will benefit 30 lakh citizens," Chouhan wrote on Twitter.
The scheme comes under the project worth USD 1.2 billion approved for India.
The BRICS bank earlier in the day informed that four infrastructure and sustainable development projects in the three countries were approved by the Board of Directors last month.
According to the NDB, the financing of infrastructure projects are linked with sustainable development.
The bank headquartered in Shanghai was founded by the five member countries- Brazil, Russia, India, China and South Africa in 2014.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)