PHILIPPINES > Asian Development Bank (ADB) signs MOU on $7.1 Billion Lending Pipeline for 2019 to 2021

Adb logo Asian Development Bank (ADB) along with Philippines’ National Economic and Development Authority (NEDA) and Department of Finance (DOF) have signed a memorandum of understanding (MOU) stating $7.1 billion sovereign lending program to the Philippines from 2019 to 2021. According to NEDA Secretary Mr. Ernesto Pernia: “I am very happy about this program. ADB has been very cooperative and helpful in More …

INDIA > Asian Development Bank (ADB) and the Government of India signed a $84 million loan to improve water supply in the state of Bihar, India

Adb logo In order to finance water supply and improve and expand water supply in Bhagalpur and Gaya towns in Bihar, ADB and the Government of India has signed a $84 million loan. The loan was approved by the ADB Board of Directors in 2012 and is the tranche 2 loan which is the part of the $200 million multi tranche financing More …

INDIA > Asian Development Bank (ADB) approves funding for the Second Rural Connectivity Investment Program totaling $500 million in India

Adb logo To improve rural roads in five Indian states, ADB approves a multitranche financing facility (MFF) for the Second Rural Connectivity Investment Program. The investment program is set to construct and upgrade over 12,000 kilometers of rural roads in five Indian states of Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal. The program builds on the first Rural connectivity investment program More …

MYANMAR > AIIB to Finance Energy Project in Myanmar

myingyan The Asian Infrastructure Investment Bank (AIIB) recently approved a US$20 million loan to finance a 225 MW Combined Cycle Gas Turbine Power Plant Project in Myingyan, Myanmar, co-financed with other Multilateral Development Banks and commercial banks according to AIIB’s press release. The power plant will be the largest Gas-Fired Independent Power Producer (IPP) in Myanmar and it aims to helps pacify the More …

NEPAL > ADB okays $180m loan to ease power shortages

ADB-Logo-Big The Asian Development Bank (ADB) has approved a $ 180 million loan to help Nepal overcome cripplingpower shortages and export surplus power to neighbouring India. The loan, from the ADB’s concessional resources, will be complemented by a co-financing loan of $ 120 million from the European Investment Bank, a $ 60 million grant from the government of Norway, and a $ 11.2 More …