The government, Asian Development Bank (ADB) and the IIFCL have signed a $250 million loan agreement for tranche 2 of the ongoing Second India Infrastructure Project Financing Facility which aims at stimulating infrastructure development through PPP investments. With this IIFCL is expected to achieve a cumulative disbursement of $4.4 billion. The $700 million multi-tranche financing facility was approved in 2009 to help IIFCL provide long-term funding for infrastructure development, with projects getting priority. The first tranche of $210 million was earmarked to finance three sub-projects for improving roads and highways in Madhya Pradesh, Punjab, Haryana, Himachal Pradesh, and in the National Capital Region of Delhi, and to partially fund a power project in Kutch district in Gujarat.
This will enable ADB to fulfill its commitment to fund eight to 10 sub-projects to expand the road network by a further 906 km.
Contact: ADB Tel: + 91 11 2410 7200 Web: www.adb.org IIFCL, Tel: +91 11 2370 8263 Web: www.iifcl.org
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