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ADB Approves Loan to Strengthen Logistics Sector

Published on December 13, 2022
Current Context: The Asian Development Bank (ADB) approved a USD 250 million policy-based loans to strengthen the logistics sector in India.
ADB Approves Loan to Strengthen Logistics Sector
  • The primary objective of this assistance by the ADB is to:
  1. Modernize India’s logistics sector
  2. Improve efficiency
  3. Reduce Green House Gas (GHG) emission
  • The loan will finance the first subprogram under the SMILE (Strengthening Multimodal and Integrated Logistics Ecosystem) initiative for multimodal logistics projects (MMLPs).
  • It will aim to strengthen the supply chain by:
  1. Simplifying external trade logistics
  2. Streamlining domestic cargo movements
  3. Improving business processes
  • It will also support the Government of India’s initiative to issue standards for warehousing.
  • ADB was established in 1966 with its headquarters in Metro Manila, Philippines. It currently has 68 member countries. Masatsugu Asakawa is the current President of the organization.

Question:

Q.1 Which of the following recently approved a USD 250 million policy-based loan to strengthen the logistics sector in India?
a. World Bank
b. ADB
c. NDB
d. IMF
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