The Asian Development Bank (ADB) and the Government of India signed a $60 Million Loan Agreement in New Delhi to continue financing riverbank protection works, renovation of flood embankments, and community-based flood risk management activities in critically flood-prone areas along the Brahmaputra River in Assam.
The Tranche 2 loan is part of the $120 million multi-tranche financing facility (MFF) for the Assam Integrated Flood and Riverbank Erosion Risk Management Investment Program approved by the ADB Board in October 2010.
Source- Press Information Bureau (PIB)
Static/Current Takeaways Important For Canara Bank PO Exam 2018:
- The Asian Development Bank is a regional development Bank established in 1966.
- Headquarters of ADB is in Manila, Philippines.
- Takehiko Nakao is Present President of the Asian Development Bank.