Telangana CM seeks funding from New Development Bank

Hyderabad, Sep 10 (IANS) Telangana Chief Minister K. Chandrashekhar Rao on Thursday sought the help of New Development Bank, set by up the BRICS countries, in funding urban development projects.

Currently on a visit to China, the chief minister on Thursday met the bank’s president K.V Kamath, and vice president Xian Zhu.

During the 40-minute meeting, Rao sought the bank’s help in funding urban development projects including waste to energy and irrigation. They responded positively, according to a statement from the chief minister’s office.

The bank, in the process of formulating funding policies, intends to focus on infrastructure development in developing countries.

The chief minister and delegation accompanying him reached Shanghai from Dalian after attending World Economic Forum meeting. They travelled by Maglev High Speed Train which moves with 300 KM per hour, from the airport to the city.

The chief minister later had interaction with industrialists on “Investment Opportunities in Telangana”.

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