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ADB Approves Loan to Maharashtra for Electric Buses

Published on November 18, 2022
Current Context: The Asian Development Bank (ADB) approved a loan of USD 400 million to the Maharashtra government.
ADB Approves Loan to Maharashtra for Electric Buses
  • The loan of USD 400 million to the Maharashtra government was approved by the ADB to bring in 5,000 e-Buses in the state.
  • The primary objective of this step is to help India to decarbonize its transport sector using e-mobility.
  • Following the approval, the Maharashtra government is set to come out with a tender of 5,000 e-Buses.
  • The model of the tender would be such that the e-buses would be run by the winning bidder’s drivers but the state government would be responsible for ticketing and collection.
  • The Asian Development Bank was established in 1966 with its headquarters in Mandaluyong, Philippines. The current President of the bank is Masatsugu Asakawa.

Question:

Q.1 A loan of USD 400 million was approved by the Asian Development Bank to?
a. Gujarat
b. Maharashtra
c. Uttar Pradesh
d. Madhya Pradesh
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