The Asian Development Bank has granted a $50 million loan to help the Infrastructure Development Finance Company build up infrastructure in India. “India needs substantial investment in infrastructure if it is to achieve its economic growth targets. The Infrastructure Development Finance Company performs a critical role as the only significant domestic financial institution fully dedicated to infrastructure,” said Seethapathy Chander, deputy director general of ADB’s private sector department. The loan is expected to encourage private companies to participate in developing roads, sewage and other public structures in the country. (Source: ADB helps India build up infrastructure/United Press International)
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