ADB approves USD 2.5 mn Technical Assistance for Biofuel Development

Current Context: The Asian Development Bank (ADB) has approved technical assistance for the advanced biofuel development in India.

• The ADB has approved a USD 2.5 million (about Rs 18 crore) in this regard. 
• The financial grant will be funded from the Asia Clean Energy Fund.
• This Asia Clean Energy Fund is being financed by Japan’s Government under the Clean Energy Financing Partnership Facility, and the Republic of Korea's e-Asia and Knowledge Partnership Fund.
• This technical assistant fund will help India to conduct development activities in advanced bioethanol, bio-compressed natural gas, and biodiesel plants.
• It will also help to tackle the obstacles which occur in this biofuel sector and will help to harness waste, strengthen energy independence, create job opportunities and mitigate global warming.
• The fund will be utilized to develop technical designs, effective business models, catalytic financing schemes, regulatory frameworks, and awareness programs.
• Static Part: 
• HQ of ADB: Mandaluyong, Metro Manila, Philippines
• President of ADB: Masatsugu Asakawa

Question: 

Q.1 Who among the following has approved technical assistance of USD 2.5 million for the advanced biofuel development in India?
a. New Development Bank
b. International Bank for Reconstruction and Development
c. Asian Development Bank
d. Asian Infrastructure Investment Bank