India And Adb Signed Loan Agreement

ADB had already approved a $200 million loan to EESL, a public sector energy services company, for the “Energy Efficiency on the Demand Side” project, which focused on lighting and equipment efficiency in 2016. The Asian Development Bank (ADB) and the Indian government today signed a $490 million loan for a public-private partnership (PPP) project to upgrade approximately 1,600 km of national roads and major two-lane latitude departmental roads (MDRs) in Madhya Pradesh state. Further investments of $286 million will be mobilized through private sector participation under the ppp modality. The signatories to the loan agreement were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Ministry of Economy, Ministry of Finance, and Kenichi Yokoyama, Director of the Resident Mission of ADB Es India. After the loan was signed, Khare said the project should contribute to the Indian government`s mission to promote energy efficiency and meet the government`s commitments to reduce the energy intensity of the economy. In addition, he said that the introduction of energy-efficient technologies in eligible countries, including smart meters, distributed photovoltaic installations and electric vehicles, will help reduce losses on the electricity grid and reduce greenhouse gas emissions. This is the second multi-cut project loan for multi-cut financing, supported by the ADB, of the Tamil Nadu Urban Flagship Investment Program, approved in September 2018, which will develop climate-resilient water, sanitation and drainage infrastructure in 10 cities in Tamil Nadus. The first $169 million project under the program is under way. The Asian Development Bank (ADB) and the Indian government signed a USD 250 million loan to Energy Efficiency Services Limited (EESL) on December 16, 2019 to increase investment in energy efficiency in India, which will benefit agricultural, private and institutional consumers. In addition, $46 million will be provided under the Clean Technology Fund (CTF), managed by the ADB. “The project aims to improve the lives of urban populations in the identified cities of Tamil Nadu, by providing universal access to water and sanitation and by improving wastewater treatment and drainage systems. Project initiatives must also help the state develop the ecosystem necessary for economic growth,” Khare said after the loan agreement was signed. The signatories to the loan agreement were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB) of the Ministry of Economy, and Kenichi Yokoyama, National Director of the ADB`s Independent Resident Mission.

In addition, a USD 270 million loan has been signed to improve water supply and integrated infrastructure for rainwater and sanitation, as well as build capacity of urban local communities (UCLs) to improve service delivery in Madhya Pradesh. NEW DELHI, INDIA (December 2, 2019) – The Asian Development Bank (ADB) and the Indian government today signed a $206 million loan to develop water and sewer infrastructure in five cities in Tamil Nadus and build the capacity of local authorities to improve service delivery. The signatories to the loan agreement were the supplementary secretary (Fund Bank and ADB) of the Ministry of Economy at the Ministry of Finance of India, Sameer Kumar Khare, and the ADB`s national director for India, Kenichi Yokoyama. The multilateral financing agency Asian Development Bank said Monday that it has signed an ink loan agreement worth $570 million (about 4180 crore) with the center to finance public infrastructure and strengthen urban local communities in Rajasthan and Madhya Pradesh. The first tranche of the loan will support the construction of the first of three priority rail corridors under the NCR 2021 regional plan to link Delhi with other cities in neighbouring states. NEW DELHI, INDE (October 13, 2020) – Asian Development Bank

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