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India and ADB signed Loan Agreement

Published on June 05, 2021
Current Context: India and Asian Development Bank (ADB) signed a loan agreement to upgrade the roads in Sikkim.
India and ADB signed Loan Agreement
  • The loan agreement of $2.5 million was signed between India and ADB.
  • ADB will grant $2.5 million project readiness financing (PRF) support.
  • The loan was signed for the project called ‘Sikkim Major District Road Upgradation Project’.
  • The project will highly help to help improve connectivity between towns and rural areas of the state.
  • This loan for the project will also help to enhance the economy of the state.
  • The roads will be upgraded in order to withstand landslides and erosion calamity.
  • Static Part: 
    • HQ of ADB: Mandaluyong, Philippines
    • President of ADB: Masatsugu Asakawa
    • CM of Sikkim: P. S. Golay
    • Governor of Sikkim: Ganga Prasad Chaurasia

Question: 

Q.1 Which organisation granted a loan to India to upgrade roads in Sikkim?
a. ADB
b. World Bank
c. AIIB
d. NDB
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