India and ADB signs a $500 million loan to support green and sustainable infrastructure projects

The Government of India and the Asian Development Bank (ADB) signed a $500 million loan to support green and sustainable infrastructure projects aligned with the countrys climate commitments on 20th December 2024. The ADB loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance Company Limited (IIFCL). The signatories to the Financing Environmentally Sustainable Growth in Infrastructure Project were Juhi Mukherjee Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Country Director Mio Oka for ADB. To meet its net-zero commitments, the country needs immense private capital investment that will require innovative financing platforms and risk-mitigation instruments to address inherent sector risks and market asymmetries. As a strategic development finance institution, IIFCL is well-suited to meet these needs.

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