Asian Development Bank (ADB) signed an agreement with Indian Railway Finance Corporation (IRFC), an entity owned by Government of India (GOI) to provide USD 750 million long-term financing for the Railways Track Electrification Project.
a. South Asian Development Bank (SADB)
b. Asian Development Bank (ADB)
c. World Bank
d. BRICS Bank
Details:
- This project is part of a broad modernization program to reduce the dependence of India's railway sector on fossil fuels.
- It is the largest single non-sovereign loan ever.
- IRFC will use the proceeds from the loan to install electric traction equipment along about 3,378 kilometres of existing railway lines.
About IRFC:
- IRFC was established in 1986.
- It is the financing arm of Indian Railways for mobilizing funds from domestic and international capital markets.
- It is registered as a non banking finance company (NBFC).
Question:
Q. Who has signed an agreement with Indian Railway Finance Corporation (IRFC) to provide USD 750 million long-term financing for the Railways Track Electrification Project?a. South Asian Development Bank (SADB)
b. Asian Development Bank (ADB)
c. World Bank
d. BRICS Bank
