ADB Approved USD 6.5 Million Loan to Greenway

Current Context: The Asian Development Bank (ADB) and Greenway Grameen Infra Private Limited signed the $6.5 million loan on November 23, 2023.

• This was the first loan approved by the ADB under the CIDF, which was established in September 2021.
• ADB and Greenway signed a $6.5 million senior secured loan to produce and distribute 1 million improved cookstoves to rural households in India’s Madhya Pradesh and Odisha states.
• This initiative is expected to reduce greenhouse gas emissions by 3.9 million tons of carbon dioxide equivalent over 10 years.
• The loan is supported by a $3.25 million first-loss liquidity reserve from the Climate Innovation and Development Fund (CIDF), which is a blended finance facility managed by ADB, established in September 2021 with an initial $25 million philanthropic commitment from Bloomberg Philanthropies and Goldman Sachs.

Question:

Q.1 What is the name of the company that received the $6.5 million loan from ADB to produce and distribute improved cookstoves in India?
a. Greenway Grameen Infra Private Limited
b. Green Energy Solutions Private Limited
c. Grameen Shakti India Private Limited
d. Green India Initiative Private Limited