ADB approves $250 million loan to strengthen logistics sector in India

Tags: Economy/Finance

The Asian Development Bank (ADB) on 9 December 2022 has approved a USD 250 million loan to support India's wide-ranging reforms that aim to strengthen and modernize the country's logistics infrastructure, improve efficiency, and lower costs.

The loan will finance the first sub-program of the strengthening multimodal and integrated logistics ecosystem program, which supports the government's efforts to create a comprehensive policy, planning, and institutional framework at the federal, state, and city level.

Asian Development Bank (ADB)

Asian Development Bank is a regional bank which was set up to provide development loans to the countries of Asia-Pacific region.

Its Headquarters is at Mandaluyong City, Manila, Philippines.

68 countries are its members and Masatsugu Asakawa of Japan is the President of the ADB.