Asian Development Bank and USAID ink MoU to develop solar parks in India

The Asian Development Bank (ADB) and the Unites States Agency for International Development (USAID) have signed a Memorandum of Understanding (MoU) for devlopment of solar parks in India. The MoU will facilitate 848 million US dollars in funding to develop solar parks across India. The collaboration of Asian Development Bank and USAID will initially focus on the state of Rajasthan.
Key facts:

• The funding will assist India in developing the clean energy infrastructure by the collaborating on design and development of PPP investment models for solar parks.


• It will help finance the development of solar parks in support of the Government of India’s renewable energy targets.


• The co-operation between 2 agencies will help to design & develop public private partnership (PPP) models as well as study options for managing grid reliability.


• Under this agreement, USAID will align the technical resources of its existing Partnership to Advance Clean Energy Deployment (PACE-D) Program.


• USAID will support ADB’s investments in the development of solar parks and renewable energy transmission infrastructure in states.

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Asian Development Bank and USAID ink MoU to develop solar parks in India

India, ADB ink $80 Million Loan Agreement to Improve Urban Services in Agartala & Aizwal

Union Government and Asian Development Bank (ADB) have signed $80million loan agreement to improve urban services in two North Eastern cities Agartala & Aizwal. This loan agreement is the 3rd tranche of a $200 million financing facility of ADB under its North Eastern Region Capital cities Development Investment Program.
Key facts:

The loan funds will be used for investments in water supply, sanitation and solid waste management in Agartala & Aizwal. It will support urban reforms as well as strengthen the institutional, managerial, and financial capacity of service institutions benefiting nearly a million people in the two cities. ADB’s 3rd tranche loan is in the form of ordinary capital resources of 20 year term. Union Ministry of Urban Development is nodal agency for implementing the tranche Three activities and overall program associated with that will have June 2019 deadline. Under NERCDI, the previous program tranches have provided assistance to 5 other cities in the Northeast. They are Aizawl (Mizoram), Shillong (Meghalaya), Gangtok (Sikkim), Kohima (Nagaland) & Agartala (Tripura).

About Asian Development Bank (ADB):
ADB is based in Manila, Philippines.
Established:
Members: It is owned by 67 members – 48 from the region including India. It is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.

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India, ADB ink $80 Million Loan Agreement to Improve Urban Services in Agartala & Aizwal

Asian Development Bank pledges 120 million Dollar loan to finance India, Bangladesh electricity link under SASEC Programme

The Asian Development Bank (ADB) has pledged to provide 120 million dollar loan in order to finance cross-border electricity link between Bangladesh and India under SASEC Programme. In this regard, loan agreement was signed by ADB Country Director Kazuhiko Higuchi and Mohammad Mejbahuddin, Senior Secretary of Bangladesh Finance Ministry. The loan fund would be used for Second Bangladesh-India Grid Inter connectivity project under the ambitious South Asia Sub-regional Economic Co-operation (SASEC) Programme. The projects under SASEC Programme aim to promote regional prosperity through improved cross border links in trade, power, road & rail links between India ,Bangladesh. The 2nd project under will double the existing capacity from 500 MW to 1000 MW of the inter-connectivity link connecting power grid at Bheramara in western Bangladesh and the grid of eastern India at Bahrampur (Odisha). It should be noted that the networks under the 1st project were connected in 2013 and was financed by the ADB under the SASEC Programme.
About South Asia Subregional Economic Co-operation (SASEC) Program:

Set up in 2001 to bring together Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka in a project-based partnership. This sub-regional partnership aims to Strengthening regional economic cooperation Boosting trade among member countries. Promote regional prosperity by improving cross-border connectivity. Build a better quality of life for the people of the subregion.

Since its establishment, SASEC member countries have implemented over 37 regional projects worth more than 6.75 billion dollars in the energy, trade facilitation, transport and ICT sectors. Manila (Philippines) based Asian Development Bank (ADB) serves SASEC Secretariat for the member countries.

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Asian Development Bank pledges 120 million Dollar loan to finance India, Bangladesh electricity link under SASEC Programme