India-ADB Current Affairs

India inks $120 Million Loan agreement with to improve Rail Infrastructure

Government has inked $120 million loan agreement with Asian Development Bank (ADB) for completion of projects to improve Rail Infrastructure along high-density corridors and operational efficiency of Indian railways. The loan has 20-year term, including grace period of 5 years and have annual interest rate determined according to ADB’s London interbank offered rate (LIBOR) based Read More…

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Government inks loan agreement with ADB for Improvement and Expansion of Water Supply in Bihar

The Union Government has inked $84 million loan agreement with Asian Development Bank (ADB) for improvement and expansion of water supply in Bhagalpur and Gaya towns in Bihar. The loan has 25-year term, including grace period of 5 years with annual interest rate determined in accordance with ADB’s lending facility based on London interbank offered Read More…

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ADB to extend $20 billion loan to India over 5 years

Multi-lateral funding agency Asian Development Bank (ADB) announced that it increase annual funding to India to up to $4 billion from existing $2.7 billion from next year to accelerate inclusive economic transformation. As part of ADB’s Country Partnership Strategy 2018-22, the multi-lateral funding agency will provide loans up to $4 billion on annual basis including Read More…

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Union Cabinet approves new Bridge over Mechi River at India-Nepal border

The Union Cabinet has approved a Memorandum of Understanding (MoU) between India and Nepal for starting construction of a new Bridge over Mechi River at India-Nepal border. The new bridge will be constructed at an estimated cost of Rs. 158.65 crore, which will be funded by India through Asian Development Bank (ADB) loan. Key facts Read More…

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India, ADB ink $375 million loan pact for East Coast Economic Corridor

India and Asian Development Bank (ADB) has signed $375 million pact for loans and grants to develop 800 km Visakhapatnam-Chennai Industrial Corridor. It is the first phase of a planned 2,500-km East Coast Economic Corridor. Earlier in September 2016, ADB had approved $631 million in loans and grants for the industrial corridor. Key Facts The Read More…

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India, ADB sign $100 Million Loan pact on Cauvery basin development

India and the Asian Development Bank (ADB) have signed a 100 million dollars loan agreement for irrigation projects, drainage system and water management in Vennar sub-basin of Cauvery delta in Tamil Nadu. The project seeks to improve water management and strengthen embankments of 6 major irrigation water channels in Vennar system. Cauvery river basin is Read More…

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