Multilateral funding agency ADB has sanctioned a USD 300 million loan facility for carrying forward fiscal reforms in West Bengal. The board of Asian Development Bank (ADB) approved a loan of USD 300 million to continue a comprehensive series of fiscal reforms in West Bengal.
West Bengal, for the first time in 2012 had received a USD 400 million from ADB, its first policy based lending with an aim to create a fiscal space necessary to sustain higher public investment in the eastern India.
Important Takeaways from Above News-
- ADB headquarters in Manila, Philippines.
- Takehiko Nakao is the President of ADB.
Source- The Economic Times