ADB Current Affairs - 2019

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ADB to finance Railways Track Electrification Project in India

The Asian Development Bank (ADB) has signed an agreement to electrify railway tracks in India under Railways Track Electrification Project. As per agreement ADB will provide $750 million (equivalent in Indian Rupee) long-term financing to Indian Railway Finance Corporation (IRFC). About ADB Loan Agreement It is the largest single non-sovereign loan ever committed by ADB Read More…

Month:  Categories: Business, Economy & Banking

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ADB cuts India growth forecast to 7.2% for 2019-20

The Asian Development Bank (ADB) in the recent Asian Development Outlook report has made the following observations in the forecast for the financial year 2019-20: India’s growth forecast was lowered for 2019-20 to 7.2% from 7.6% estimated earlier due to moderation in global demand and likely shortfall in revenue on the domestic front. Despite the downgrade in Read More…

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Govt and ADB sign loan agreement for Mumbai Metro Rail Project

The Government and the Asian Development Bank (ADB) have signed a loan agreement of $926 Million to operationalise two lines for the Mumbai Metro Rail System. This is the single largest Infrastructure Project Loan in ADB history approved by the Asian Development Board. About the Project The loan agreement will fund the lines 2A (Dahisar to D.N. Read More…

Month:  Categories: StatesUPSC

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ADB retains India’s growth forecast at 7.3% for FY19

Asian Development Bank (ADB) in its Outlook Supplement has retained India’s growth forecast at 7.3% for current fiscal (2018-19) and 7.6% in following financial year (2019-20). It held that India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output. Key Facts India saw GDP growth moderate to 7.1% in Q2 of Read More…

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Government inks $31 million loan agreement with ADB to develop tourism and boost jobs in Tamil Nadu

Union Government has inked $31 million loan agreement with Asian Development Bank (ADB) for Tamil Nadu Government’s Infrastructure Development Investment Program for Tourism (IDIPT). It is fourth loan tranche for this program aimed at building-up tourism industry and boost visitor arrivals in Tamil Nadu. Infrastructure Development Investment Program for Tourism (IDIPT) It is $250 million Read More…

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Government inks $75 million loan with ADB to improve Urban Services in 4 Karnataka Towns

Union Government has inked $75 million loan agreement with Asian Development Bank (ADB) for Karnataka Integrated Urban Water Management Investment Program. Under it 24 x7 water supply will be provided in Karnataka’s four coastal towns of Kundapura, Mangalore Puttur and Udupi and improve sanitation infrastructure for Mangalore town. It will be tranche 2 loan agreement Read More…

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ADB to provide US $13 million loan to EESL to promote efficient energy usage in India

Asian Development Bank (ADB) it will provide US $13 million loan to Energy Efficiency Services (EESL) to promote efficient energy usage in India. It will be provided by Global Environment Facility (GEF) as part of US $200 million ADB-financed Demand-Side Energy Efficiency Sector Project. Key Facts ADB funding is helping EESL finance energy service utilities Read More…

Month:  Categories: Business, Economy & Banking

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