Updated By: LatestGKGS Desk
India & ADB Signed $300 Million Loan Agreement To Support IIFCL lending In India
India & ADB Signed $300 Million Loan to support India Infrastructure Finance Company Limited (IIFCL) lending in India: Details, Aim, Highlights
The Asian Development Bank (ADB) and the Government of India on 16th November 2018 have signed a $300-million loan agreement to support lending by India Infrastructure Finance Company Ltd (IIFCL).
This loan is believed to enhance the availability of long-term finance for public-private partnership projects, the improve operational capacity of IIFCL and expand the portfolio of infrastructure financing instruments available to the company. It will also complement India’s infrastructure-building efforts.
The $300-million ADB loan is expected to help leverage the financial closing of $2.4 billion in investments. Moreover, the attached technical assistance will support IIFCL capacity development and will focus on IIFCL’s financial management and social and environmental safeguards.”
The ADB funding is expected to fund at least 13 sub-projects through IIFCL, involving roads and renewable power generation, under the last tranche.
ADB
Established: 1966
Headquarters: Manila, Philippines
President: Takehiko Nakao
Members: 67 (48 regional members)
