India Gets $500M ADB Loan for Green Growth
24 Dec 2024
1 Min Read
CW Team
The Indian government and the Asian Development Bank (ADB) have signed a $500 million loan agreement to finance green and sustainable infrastructure projects, advancing the country鈥檚 climate action goals.
The loan, backed by a sovereign guarantee, will be channelized through the India Infrastructure Finance Company Limited (IIFCL). The funds are expected to support projects focusing on energy transition, connectivity, urban development, education, and healthcare.
鈥淎DB financing will help IIFCL provide long-term capital for critical infrastructure projects while addressing under-resourced sectors like urban projects and health care,鈥� said Mio Oka, ADB鈥檚 Country Director for India.
The initiative will also strengthen IIFCL鈥檚 institutional capacity by integrating green practices into infrastructure planning. The Ministry of Finance stated that a sustainability unit, an environmental framework, and a project scoring method to assess sustainability ratings will be established.
Additionally, the project aims to attract private sector investments by mitigating risks and expanding IIFCL鈥檚 financial product offerings.
This partnership underscores the importance of innovative financing platforms in meeting India's net-zero commitments.
Meanwhile, last week, India and ADB signed a $350 million policy-based loan under the SMILE programme to reform the logistics sector and strengthen domestic manufacturing resilience.
The Indian government and the Asian Development Bank (ADB) have signed a $500 million loan agreement to finance green and sustainable infrastructure projects, advancing the country鈥檚 climate action goals.The loan, backed by a sovereign guarantee, will be channelized through the India Infrastructure Finance Company Limited (IIFCL). The funds are expected to support projects focusing on energy transition, connectivity, urban development, education, and healthcare.鈥淎DB financing will help IIFCL provide long-term capital for critical infrastructure projects while addressing under-resourced sectors like urban projects and health care,鈥� said Mio Oka, ADB鈥檚 Country Director for India.The initiative will also strengthen IIFCL鈥檚 institutional capacity by integrating green practices into infrastructure planning. The Ministry of Finance stated that a sustainability unit, an environmental framework, and a project scoring method to assess sustainability ratings will be established.Additionally, the project aims to attract private sector investments by mitigating risks and expanding IIFCL鈥檚 financial product offerings.This partnership underscores the importance of innovative financing platforms in meeting India's net-zero commitments.Meanwhile, last week, India and ADB signed a $350 million policy-based loan under the SMILE programme to reform the logistics sector and strengthen domestic manufacturing resilience.
Next Story
Swamiraj Rebrands as House of Swamiraj, Announces Rs 210 Cr Project
In a strategic shift marking its evolution from a reputed builder to a lifestyle-focused brand, Swamiraj Constructions has rebranded as House of Swamiraj. With a two-decade legacy and over 1,700 homes delivered across the Mumbai Metropolitan Region (MMR), the company is embracing a new phase centred on community-driven, wellness-oriented living. The rebranding was unveiled via a digital campaign titled #BeyondDimensions, executed in three phases鈥攖easer, engagement, and launch. The campaign spotlighted the brand鈥檚 renewed commitment to designing homes that go beyond function to foster ..
Next Story
Morpho Dimensions Set to Cross Rs 1 billion Revenue in FY 25鈥�26
Morpho Dimensions, a venture of acclaimed architecture and design firm Morphogenesis, is transforming India鈥檚 office interiors landscape with a technology-first, design-led approach. With a secured orderbook of Rs 700 million and additional projects in the pipeline, the firm is confidently on track to cross Rs 1 billion in revenue in FY 2025鈥�26.聽By combining Artificial Intelligence (AI), Building Information Modelling (BIM), and Virtual Reality (VR), Morpho Dimensions enables clients to visualise and step into immersive, ready-to-operate workspaces within 90 days鈥攗shering in a new bench..
Next Story
TOTO鈥檚 NEOREST Surpasses 4 Million Global Shipments
TOTO has announced that its flagship smart toilet, NEOREST, has surpassed 4 million global shipments as of March 2025, marking a major milestone in the evolution of luxury sanitation and setting a new global benchmark in design-led hygiene innovation. Launched in 1993 with the aim to redefine conventional toilets, NEOREST has consistently merged cutting-edge technology with minimalist design. Over three decades, it has become a category-defining product, earning global acclaim with prestigious honours including the iF Design Award, Red Dot, and Green Good Design Awards. The integrate..
