WASHINGTON — Virginia Gov. Robert McDonnell announced this week that the Virginia Transportation Infrastructure Bank will provide $160 million in loans to help finance two major transportation projects in the commonwealth.

The infrastructure bank, created in 2011 as part of McDonnell’s $4 billion transportation package, will provide $80 million for the U.S. Route 460 Corridor Improvements Project between Petersburg and Suffolk and $80 million for the Gloucester Parkway and Pacific Boulevard Extension in Loudoun County. The Route 460 project will be a public-private partnership and the Gloucester Parkway project loan will be repaid with mortgage assessments on area property, the governor’s office said.

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