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ADB Grants Loan to Northern Arc Capital Ltd

Published on December 24, 2020
Current Context: The Asian Development Bank (ADB) has signed a loan agreement with Northern Arc Capital Ltd (NACL).
ADB Grants Loan to Northern Arc Capital Ltd
  • The loan is offered by ADB to NACL for the purpose of lending to microfinance borrowers, MSMEs and affordable housing institutions who are facing trouble to attract debt funding from investors.
  • Therefore, ADB has offered a loan of $40 million to NARC. 
  • This funds will also provide financial support to GOI’s moto to uplift MSMEs and microfinance institutions.
  • Also, this will allow NACL to develop new debt products with attractive solutions for its clients. 
  • Static Part: 
    • About NACL: It is a Non-Banking Finance Company whose HQ is in Chennai, Tamil Nadu
    • HQ of ADB: Mandaluyong, Metro Manila, Philippines

Question: 

Q.1 Who among the following offered a loan amount of $40 million to Northern Arc Capital Ltd (NACL)?
a. New Development Bank
b. Asian Development Bank
c. World Bank
d. Bank of America
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