India signs $329 million of loan pact with AIIB for Gujarat road project

India has recently signed a $329 million loan agreement with Asian Infrastructure Investment Bank (AIIB) for Gujarat Rural Roads Project. The objective of the project is to improve the rural road connectivity and accessibility to more than one thousand villages in all the 33 districts of the state benefiting about 80 lakh people. The project will also benefit the service providers such as public transport operators, educational institutions, hospitals, local markets and traders.