ADB to provide USD 500 mn loan to support sustainable infra projects in India

NEW DELHI: The Government of India and the Asian Development Bank (ADB) has signed a USD 500 million (about Rs 4,250 crore) loan to support green and sustainable infrastructure projects aligned with the country’s climate commitments.

The ADB loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance Company Ltd (IIFCL), the finance ministry said in a statement on Monday.

The signatories to the Financing Environmentally Sustainable Growth in Infrastructure Project were Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Country Director Mio Oka for ADB.