Risk-averse banks drying up loans for highway projects


Risk-averse banks drying up loans for highway projects

Risk-averse bankers are slowing construction of infrastructure projects in India, Nitin Gadkari, the country’s minister for road transport and highways, said.

Loans to road contractors and bank guarantees for projects have dried up, threatening to stall India’s plans to build more than 84,000 kilometers of roads by 2022, Gadkari said, addressing the Bloomberg India Economic Forum on Tuesday.

“For the sake of industry, sake of investment, sake of contractors, creating jobs, for the sake of economy, we need positive support from banks,” he said. Read More 

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