ADB To Provide $700M To India Infrastructure Projects

Law360, New York (October 3, 2013, 5:48 PM EDT) -- The Asian Development Bank will provide $700 million in loans to fund Indian infrastructure projects, making the funds available to developers as a potential substitute for bank loans, the ADB said Thursday.

The funds will go toward financing India's massive infrastructure needs during the next five years. The government's half-decade plan, set to end in 2017, calls for $1 trillion of infrastructure investments to achieve economic growth of 8.4 percent.

"Poor infrastructure is one of the biggest drags on growth and development in India, and there...
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