ADB Loans to India Cross $800 Million for Four States
Why in the news
The Government of India and the Asian Development Bank (ADB) finalised a financing package of three loans along with a small grant, aimed at development work in four states.
Key facts
- Number of loan agreements: three, together worth over $800 million.
- Grant component: $1 million Technical Assistance grant.
- Lender and partner: Asian Development Bank (ADB) with the Government of India.
- States covered: Maharashtra, Madhya Pradesh, Gujarat and Assam.
| Area funded | Purpose |
|---|---|
| Infrastructure | General development works in the four states |
| Renewable energy | Clean power projects |
| Metro rail | Urban rail development |
| Skills | Skills enhancement for workers |
Exam angle
- Multilateral lender in the news: ADB; borrower: Government of India.
- Package size: loans above $800 million, grant of $1 million for technical assistance.
- Remember the four beneficiary states and the four themes of the package.