India to Secure ADB Loan for Transport Project

The Asian Development Bank will offer more than USD74 million to back a bus transit project in India’s Pimpri-Chinchwad city. The credit will finance 25 percent of the total project cost. “We will be working out details of the loan amount and the terms and conditions in two weeks,” said Pimpri-Chinchwad Municipal Corporation Commissioner Ashish Sharma. “The ADB has appointed a consultant to assess the social and environmental impact of the project, which is expected to be ready in three months.” (“Asian Development Bank to finance BRTS plan” - Times of India, Nov. 9, 2008)

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