Bank of Baroda has approved a loan of Rs 2,000 crore for the Bundelkahnd Expressway project.
A release issued on Thursday by the Uttar Pradesh government said another milestone has been attained in the progress of Bundelkhand Expressway Project, aimed at development of Bundelkhand area of the state.
According to the statement, for the financing of this prestigious project, Bank of Baroda Managing Director and Chief Executive Officer P S Jaykumar had given in-principle commitment of Rs 1,500 crore but on the initiative of the Chief Minister, the bank has now sanctioned investment of Rs 2,000 crore in this project as a part of the consortium loan of Rs 7,000 crore.
With this initiative, other banks would also be able to fast-track the loan proposals under their consideration and UPEIDA shall be able to attain expeditious financial closure of the loan of Rs 7,000 crore for this project with the approval of the state government.
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