A $500 million loan was signed by the Government of India and Asian Development Bank (ADB) on 20th December 2024.
This loan has been signed to support green and sustainable infrastructure projects aligned with India’s climate commitments.
The ADB loan will be extended to the India Infrastructure Finance Company Limited (IIFCL).
Ms. Juhi Mukherjee Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Country Director Mio Oka for ADB were the signatories to the Financing Environmentally Sustainable Growth in Infrastructure Project.
IIFCL’s institutional capacity to incorporate best practices and green practices into infrastructure projects will be strengthened by the project.
To evaluate the sustainability rating of the projects, a sustainability unit, environmental sustainability framework, and scoring system will also be devised.
