Asian Development Bank (ADB) has inked an agreement to invest USD 50 million in solar energy project developer Avaada Energy Pvt Ltd to help the company scale up rapidly.
The investment will come equally from ADB’s Ordinary Capital Resources and Leading Asia’s Private Infrastructure Fund (LEAP). LEAP is a funding arrangement provided by Japan International Cooperation Agency (JICA) which is administered by ADB.
Source- The Economic Times
Static/Current Takeaways Important For LIC AAO Mains Exam:
- Asian Development Bank Headquarters: Manila, Philippines, President: Takehiko Nakao.