India govt, ADB sign $1.2 bn loan agreements for infrastructure projects

NEW DELHI (Reuters) – The Indian government and the Asian Development Bank (ADB) on Tuesday signed loan agreements totalling $1.22 billion for developing infrastructure in various Indian states, a statement from the finance ministry said.

The agreements would cover projects for improving the power sector and highways in the northeastern states of Tripura and Assam, metro rail connectivity in the southern city of Chennai, and improvement of key economic areas in the western state of Maharashtra, the statement added.

 

(Reporting by Shivam Patel in New Delhi; Editing by Alex Richardson)

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