ADB to provide two loans totalling $850 mn to India

India has signed two loan agreements totalling $850 million with the Asian Development Bank (ADB).

New Delhi:  
India
has signed two loan
agreements totalling $850 million with the Asian Development Bank (ADB), the
finance ministry said in a statement on Tuesday.

The ADB will provide a $700-million loan,
in three tranches in as many years, to state-run India Infrastructure Finance
Company Ltd. to fund the country's infrastructure programme.

The Manila-based bank will lend $150
million in four tranches over a period of three years, the statement added, for
the restructuring and development of Khadi industry, which makes
India
's
traditional handspun fabric.

Bureau Report

Tags: