Government of India and ADB Signed an agreement on Monday for loan that is going to use for infrastructure.
India is a one of the founding members of Asian Development Bank (ADB) and fourth largest shareholder. On Monday Government of India and ABD signed on two agreements of loan $250 millions each. One loan is for Delhi – Meerut Regional Rapid Transit System (RRTS) Corridor and another is for Industrial Development Corridor.
Manila based ADB on Monday said it has approved two loans. RRTS corridor is an rail corridor between Delhi and Meerut of about 82 km. Earlier, ADB has approved a $ 1,049 million MFF for the project in 2020 to support the construction of RRTS. India has planned for three corridor which connect Delhi with other important cities.
Another agreement between Government of India and Asian Development Bank (ADB) is on $250 million policy-based loan that will continue support to industrial corridor development to make manufacturing more competitive, strengthen national supply chains and links with regional and global value chains, and create more and better jobs.