ADB Approves Loan to Strengthen Logistics Sector

Current Context: The Asian Development Bank (ADB) approved a USD 250 million policy-based loans to strengthen the logistics sector in India.

• 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