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  • Government of India and Asian Development Bank collaborate for three projects

    first_imgThe government of India and the Asian Development Bank (ABD) signs three separate loans in one day of worth USD 574 million in the capital of India to support the projects India Infrastructure Finance Company Limited (IIFCL) in India, water and sanitation services in Tamil Nadu, and Hydropower Transmission in Himachal Pradesh.ADB and the Government of India today signed 3 separate loan agreements for projects worth $574 million in New Delhi. These included a $300 million loan to support lending by #IIFCL, a $169 million loan to Tamil Nadu and $105 million loan to Himachal Pradesh. pic.twitter.com/VmLpxwG16oADB India (@ADB_INRM) November 16, 2018Infrastructure Finance Company Limited The Government of India and @ADB_HQ sign $300 Million Loan to support India Infrastructure Finance Company Limited (IIFCL)in Indiahttps://t.co/vsA8i1e8tb pic.twitter.com/W3cQD6ywaHPIB India (@PIB_India) November 16, 2018Eatablished in 2006, IIFCL also referred as SIFTI, is a government of India company.IIFCL provides financial assistance to the infrastructural sub-sectors listed by the government or the RBI which broadly include transportation, energy, water, sanitation, communication, social, and commercial infrastructureThe ADB and the government signed a loan agreement of USD 300 million to support IIFCLThis project is believed to enhance the availability of long-term finance for PPP projects, improve the operational capacity of IIFCL, and expand the portfolio of infrastructure financing instruments available to IIFCLIIFC has also made a contribution of Rs 300 crore to the National Sports Development Fund (NSDF)This contribution is being utilized for the promotion of sports in the disciplines like Badminton, Archery and Para Sports.advertisementWater and sanitation facilities in Tamil NaduGovernment of India and the Asian Development Bank (ADB) signed in New Delhi today a $ 169 Million Loan Agreement to provide Water and Sanitation Services in State of Tamil Nadu; For full details, please log on to: https://t.co/bBW1TOIsI1Ministry of Finance (@FinMinIndia) November 16, 2018Asian Development Bank (ADB) and the Government of India signed a USD 169 million loan as the first tranche of a USD 500 million multi-tranche financing to develop climate-resilient water supply, sewerage, and drainage infrastructure in at least 10 cities in the state of Tamil Nadu.The state has faced recurring droughts and erratic monsoons in the recent past resulting in severe water scarcity and urban flooding.ADB’s support will help address these complex urban challenges through innovative and climate-resilient investment and deeper institutional supportThe program will develop climate-resilient sewerage collection and treatment and drainage systems in 10 citiesIt will also help in installing country’s first solar-powered sewage treatment plantIntroduction of smart water management systems will help reduce non-revenue water and strengthen operational efficiencyAround four million people will benefit from piped water and sewerage connections, and improved drainageThe program will boost institutional capacity, public awareness, and urban governance as a part of a comprehensive approach for developing livable cities.Hydropower Transmission in Himachal PradeshGovernment of India and the Asian Development Bank (ADB) signed here today in New Delhi a $105 Million Loan Agreement to Support Hydropower Transmission in Himachal Pradesh; For full details, please log on to: https://t.co/44i20kIisMMinistry of Finance (@FinMinIndia) November 16, 2018The ADB signed a USD 105 million loan to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower to the state and the national gridThe tranche 3 loan is part of the USD 350 million multi-tranche financing facility (MFF) for Himachal Pradesh Clean Energy Transmission Investment Program approved by the ADB Board in September 2011The program is aimed at developing and expanding the transmission network to remove clean and renewable power generated from the state’s hydropower sources to load centers within and outside the stateIt also supports the institutional capacity development of the state transmission utility, Himachal Pradesh Power Transmission Corporation Limited (HPPTCL), as the executing agency for this project.Also read: Do you know the salary of the President of India?Read: UP, MP, Bihar have highest fertility rates, shows UN report: How fertile are Indian states?Read: There’s a new programme to tackle rural youth unemployment in IndiaInterested in General Knowledge and Current Affairs? Click here to stay informed and know what is happening around the world with our G.K. and Current Affairs section.To get more updates on Current Affairs, send in your query by mail to [email protected]last_img read more

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