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GOI Repays IL&FS Loans

Published on December 15, 2022
Current Context: The Government of India repaid the Infrastructure Leasing & Financial Services (IL&FS) loans to the Asian Development Bank (ADB) and KfW.
GOI Repays IL&FS Loans
  • The Central Government repaid the sum of:
  1. INR 1,109 Cr to the ADB
  2. INR 29 Cr to KfW
  • The loan was repaid to the:
  1. ADB was availed by IL&FS from it in 2002
  2. KfW was availed by IL&FS from it in 2005
  • The GOI-guaranteed loans were utilized to fund the initiatives undertaken by the IL&FS companies.
  • The GOI provided loan guarantees becoming a lender and entered into the list of IL&FS creditors.
  • The KfW is a German state-owned investment and development bank that was established in 1948 with its headquarters in Frankfurt, Germany. The current CEO of the company is Günther Bräunig.

Question:

Q.1 The Government of India recently repaid the Infrastructure Leasing & Financial Services (IL&FS) loans to?
a. World Bank
b. IMF
c. NDB
d. ADB
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