The Asian Development Bank (ADB) on Friday signed three loan agreements with the government to provide debt of USD 574 million for on-lending, electricity transmission and water supply infrastructure projects.
ADB and the government signed three separate loan agreements for USD 300 million, USD 169 million and USD 105 million. As part of the loan agreements, ADB will provide USD 300 million to support lending by India Infrastructure Finance Company Ltd (IIFCL).
“ADB funding is expected to fund at least 13 sub-projects through IIFCL, involving roads and renewable power generation, under the last tranche,” ADB Country Director for India Resident Mission Kenichi Yokoyama said in the release.
The project will enhance availability of long-term finance for PPP projects, improve operations capacity of IIFCL and expand the portfolio of infrastructure financing instruments available to IIFCL, said Finance Ministry Additional Secretary Sameer Kumar Khare, who signed the agreement on behalf of the government. Read More
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