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GOI Signs Loan Pact With NDB

Published on December 18, 2020
Current Context: The Indian Government has signed a loan agreement with the New Development Bank (NDB) for the purpose to support the Indian economy to recover from
GOI Signs Loan Pact With NDB
COVID-19 pandemic situation. 
  • Therefore, NDB will offer the loan of $1,000 million to GOI. 
  • The loan is having a tenor of 30 years including 5 year grace period.
  • The loan is provided under NDB’s fast track emergency response to COVID-19.
  • The fund amount will be used for rural infrastructure related to natural resource management and generation of rural employment under MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme).
  • Static Part: 
    • HQ of NDB: Shanghai, China
    • President of NDB: Marcos Prado Troyjo


Q.1 Who among the following signed $1,000 million loan agreement to support India in the post-COVID-19 era?
a. New Development Bank
b. Asian Development Bank
c. Organisation for Economic Co-operation and Development
d. European Bank for Reconstruction and Development

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