India and ADB Sign $60 Million Loan Agreement For Assam 

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.

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