GOI and ADB $500 million loan to support sustainable infrastructure projects

Current context: On December 20, 2024, the Government of India and the Asian Development Bank (ADB) signed a $500 million loan agreement to support sustainable infrastructure projects.

• This loan is part of India's commitment to enhancing its climate resilience and transitioning towards sustainable development.
• Key aspects of the loan include:
• Fund Utilization: The loan will be extended to the India Infrastructure Finance Company Limited (IIFCL), with a sovereign guarantee from the Government of India.
• Project Focus: The funds will be used for projects in connectivity, energy transition, urban development, education, and health care.
• Climate Commitments: The projects align with India's climate commitments, aiming to reduce carbon emissions and promote sustainable practices.
• This agreement highlights India's dedication to building resilient infrastructure while addressing climate change and supporting sustainable growth.

Question:

1 On December 20, 2024, the Government of India signed a loan agreement worth how much with the Asian Development Bank (ADB) to support sustainable infrastructure projects?

• A) $500 million
• B) $300 million
• C) $250 million
• D) $1 billion

Answer: A) The Government of India and ADB signed a $500 million loan agreement to enhance sustainable infrastructure, focusing on India's commitment to climate resilience and sustainable development.