Current Affairs Agreements

Category : Agreements

India and ADB have signed 3 important loan agreements in various fields/projects in New Delhi. The signatories to the loan/projects Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance; and Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission, who signed for ADB.

The 3 Loan Agreements Signed between India and ADB are:  A $300 million Loan Agreement to support lending by India Infrastructure Finance Company Limited (IIFCL).  A $169 million loan as the First Tranche of a $500 million multi-tranche financing to develop climate-resilient water supply, sewerage, and drainage infrastructure in at least 10 cities in the State of Tamil Nadu. A $105 million loan to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower to the state and the national grid.

Source- Press Information Bureau (PIB)