ADB To Provide USD750 Million Loan To India For Railway Track Electrification 

Multilateral funding agency Asian Development Bank (ADB) has announced that it has signed an agreement to provide USD 750 million equivalent in Indian rupee long-term financing to electrify railway tracks in India. It is the largest single non-sovereign loan ever committed by ADB to Indian Railway Finance Corporation (IRFC) to fund the railways track electrification project.

Source- The Economic Times

Static/Current Takeaways Important for LIC AAO Exam:

  • Takehiko Nakao is the President of the Asian Development Bank.
  • Headquarters: Mandaluyong, Metro Manila, Philippines.

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