ADB Boosts Rural Development in Indian State

    The Asian Development Bank has approved a $400 million loan designed to promote rural development in the Indian state of Madhya Pradesh.

    The loan will be used to support the state’s efforts to provide better education and 24-hour electricity services to people living in its poorest regions. The money will be disbursed in several tranches, with the first one worth $200 million, according to the Business Standard.

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    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.