The board of Va Tech Wabag approved the proposal for fundraising by way of issuance of non-convertible debentures up to Rs 200 crore to ADB on a private placement basis.
Overall, the project will reduce emissions by 14,780 tonne per year, ADB said.
The funding was announced by Asian Development Bank (ADB) President Masatsugu Asakawa as part of the 55th ADB annual meeting, during a virtual press conference.
For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier. Inflation will remain elevated this year and the next, ADB said in an update to its flagship Asian Development Outlook (ADO) 2022 report.
The bank has entered into a partial guarantee programme with ADB with an initial outlay of USD 70 million (Rs 560 crore), exclusively towards promoting supply chain finance solutions in India, IndusInd Bank said in a release on Friday.
The bank expects the region to grow 4.6 percent this year compared to an earlier forecast of 5.2 percent
The PRF loan will help design water supply, sanitation, solid waste management and urban roads in 16 district headquarter towns (DHTs) with climate resilient features and improved access to poor and vulnerable.
Of the COVID-19-related assistance, $1.5 billion was towards vaccine procurement and $300 million to strengthen primary health care in urban areas and the country's future pandemic preparedness.
The loan supports the policies established by the Ministry of Housing and Urban Affairs to accelerate universal coverage of piped water supply and improved sanitation, Asian Development Bank said in a release.
Huge questions still hang over the project, though. Among them are the difficulty of pushing a pipeline through a war-torn country, and financing the Tapi pipeline which ADB says could cost USD 10 billion.
Shaktikanta Das also served as India’s Alternate Governor in the World Bank, Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB)
In April, ADB had projected a growth rate of 11 per cent in 2021-22 for India.
The project will construct two new metro lines, mostly elevated, along Outer Ring Road and National Highway 44 between Central Silk Board and Kempegowda International Airport with 30 stations, ADB said in a release.
India's GDP growth recovered to 1.6 percent in the last quarter of fiscal year ended March 2021, narrowing contraction in the whole fiscal year from 8 percent estimated in April to a revised 7.3 percent, the multilateral funding agency said in the Asian Development Outlook (ADO) Supplement.
CESL will work with Tata Motors to deploy these vehicles to the government entities looking to change over to electric vehicles
ADB approved loans for sustainable urban development in secondary and smaller towns in Rajasthan and Madhya Pradesh.
The project will support the purchase of personal protective equipment, basic hygiene products, and patient care equipment such as ventilators and beds.
Speaking to reporters here, Chavan said the backlog in road work had gone up and the funds required would be more than what the state budget has allocated.
In parallel to underground distribution cables, over 2,800 km of fibre optical cables will be installed to strengthen communication network.
ADB has launched a USD 9 billion vaccine initiative — the Asia Pacific Vaccine Access Facility (APVAX) — offering rapid and equitable support to its developing members as they procure and deliver effective and safe coronavirus disease (COVID-19) vaccines, it said in a release.
"Regional cooperation and integration has been an effective driver for strong economic growth and a sharp reduction in poverty,” ADB vice-president for knowledge management and sustainable development Bambang Susantono said in a statement.
Khare and Konishi also signed the agreement for the funding of Madhya Pradesh Urban Services Improvement Project, which is additional financing to scale up the scope of the ongoing project that was approved in 2017 with a $275 million loan.
The project is expected to build citywide access for improved water supply services for around 5,70,000 people in Rajasthan.
Takeo Konishi has 22 years of professional experience, including almost two decades with ADB in many senior roles including as Country Director of Uzbekistan Resident Mission and Advisor in the Central and West Asia department.
"...the President is pleased to accept the resignation tendered by Shri Ashok Lavasa, Election Commissioner with effect from the 31st August, 2020," the notification said.