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ADB to offer $15 million to Suguna Foods Private Ltd

Published on September 15, 2020
Current Context: Asian Development Bank has entered with an agreement for debt financing for Suguna Foods Private Ltd.
ADB to offer $15 million to Suguna Foods Private Ltd 
  • The agreement of $15 miilion is signed between ADB and Suguna Foods Pvt LTD. 
  • The financial support will help to sustain poultry farming operations, efficiency in rural livelihoods and enhancing food security.
  • ADB's liquidity support to Suguna will lead to build inventory buffers and make timely payments to their contract farmers and suppliers.
  • Static Part: 
    • HQ of ADB: Mandaluyong, Philippines.
    • President of ADB: Masatsugu Asakawa

Question: 

Q.1 Which organisation has offered liquidity support for Suguna Foods Pvt LTD to sustain poultry farming operations?
a. New Development Bank
b. NABARD
c. Ancient Development Bank
d. World bank
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