ADB clears $700 mn loan for Indian infrastructure development

Friday, October 4, 2013

The Asian Development Bank (ADB) has approved $700 million in loans to support the Indian government’s efforts to accelerate investment in infrastructure which the country requires to ensure strong economic growth.

“Poor infrastructure is one of the biggest drags on growth and development in India and there is a large investment funding gap of about $113 billion during the 12th Five-Year Plan for 2012-2017,” ADB said in a statement.

Source: Business Standard (link opens in a new window)

infrastructure, lending