ADB Approved $500 Million Loan to GOI

Current Context: The Asian Development Bank (ADB) approved the loan to India to enhance the quality of school education and to mitigate the impact of the COVID-19 pandemic in the education and learning sector.

• In this regard, the ADB sanctioned the loan of $500-million to GOI.
• The funds will support the Integrated Scheme for School Education (Samagra Shiksha) and the new Exemplar School Initiative of the Education Ministry.
• This will help to enhance and improve education quality as it will lead to imparting inclusive and equitable learning results.
• Around 1,800 government schools will be transformed into exemplar schools in the states like Assam, Gujarat, Jharkhand, Tamil Nadu, and Uttarakhand.
• These Exemplary schools will work to develop quality learning environments and will generate effective learning models which will be further utilized in other government schools in India.
• Static Part: 
• HQ of ADB: Manila, Philippines
• President of ADB: Masatsugu Asakawa

Question: 

Ques: 1: What amount of loan was sanctioned by ADB to GOI to enhance the quality of school education and to mitigate the impact of the COVID-19 pandemic in the education sector?
a. $600-million
b. $500-million
c. $400-million
d. $300-million