MANILA, Dec. 11 (Xinhua) -- The Asian Development Bank (ADB) on Wednesday approved a 500-million-U.S. dollar loan to boost India's environmentally sustainable infrastructure.
The ADB loan, with a sovereign guarantee, to India Infrastructure Finance Company Limited (IIFCL) is expected to advance sustainable infrastructure development in the country.
The loan vows to help IIFCL provide long-term capital for infrastructure projects focusing on connectivity, energy transition, and under-resourced sectors like urban projects, education, and health care.
According to the ADB, India is among the world's most impacted economies due to climate change and intensifying hazards such as floods, droughts, and cyclones, which require infrastructure projects to mitigate these risks. The country faces a gap of 1 trillion dollars in climate financing that the public sector cannot meet alone. ■
