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