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OnDecember 20, 2024 the Government of India signed a $500 million loan agreement with which international organization to support green and sustainable infrastructure projects?
International Monetary Fund (IMF)
Asian Infrastructure Investment Bank (AIIB)
World Bank
Asian Development Bank (ADB)
None of the above
Asian Development Bank (ADB)
The Government of India signed a 500 million USD loan agreement with the Asian Development Bank on December 20, 2024, to bolster green and sustainable infrastructure.
The loan agreement aims to accelerate India's transition toward environmentally sustainable growth by financing projects that improve climate resilience and energy efficiency. This financial support is aligned with India's long-term Net Zero emissions targets and commitment to the Sustainable Development Goals. The funds are designated to support critical sectors, including affordable and clean energy, sustainable urban development, and climate-resilient infrastructure. The collaboration reflects the deepening partnership between India and the ADB in promoting infrastructure-led economic expansion.
The Asian Development Bank (ADB) was established in 1966 and is headquartered in Mandaluyong, Philippines. It functions as a regional development bank focused on promoting social and economic development in Asia and the Pacific. The Government of India is a founding member of the ADB.
Loan amount: 500 million USD
Agreement date: December 20, 2024
Partner organization: Asian Development Bank (ADB)
Primary objective: Promotion of green and sustainable infrastructure
D is correct тАФ The Government of India signed a 500 million USD loan agreement with the Asian Development Bank (ADB) on December 20, 2024.
Remember that ADB is the primary partner for India's regional and green infrastructure projects, often identified by the focus on 'sustainable development' and 'Net Zero' goals in current exam papers.
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