India, ADB ink $1.2 billion loan agreement for infrastructure projects

4 Jan 2023 , 12:35 PM

The Indian government and the Asian Development Bank (ADB) signed loan agreements aggregating to $1.22 billion on Tuesday.

As per the media reports, the loan agreement is for developing infrastructure in various Indian states, a statement from the finance ministry said.

The agreements would cover projects for improving the power sector and highways in the northeastern states of Tripura and Assam.

The project will also include metro rail connectivity in the southern city of Chennai, and improvement of key economic areas in the western state of Maharashtra, the statement added.

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