India Secures Massive Infrastructure Aid from ADB

The Asian Development Bank is lending USD7.4 billion to help develop India’s infrastructure in a bid to reduce disparities between the country’s states.

The funds, which will be disbursed from 2011 through 2013, will finance infrastructure projects in the transportation, urban development and energy sectors in the states of Assam, Chhattisgarh and Bihar, among others.

ADB said it will also support rural road development projects in Madhya Pradesh, West Bengal and Orissa, The Wall Street Journal says.

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    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.