2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ADB approved $190 million of sovereign and non-sovereign loans to which state government to upgrade power distribution?
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Karnataka
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Maharashtra
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Uttar Pradesh
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West Bengal
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Explanation:
Detailed explanation-1: -The Manila-based Asian Development Bank (ADB) has approved a loan of $190 million (approx Rs 1, 400 crore) to modernize and upgrade the power distribution system in Bengaluru, Karnataka. The financial-assistance by ADB will be used for the Bengaluru Smart Energy Efficient Power Distribution Project.
Detailed explanation-2: -Notes: The Asian Development Bank (ADB) is to provide a USD 100 million loan to upgrade the power distribution system in Bengaluru city.
Detailed explanation-3: -Middle-income countries borrow from ADB at near-market terms, while lower-income countries access loans at reduced rates. A number of DMCs can access the ADF for grants to improve the quality of life of the poor and vulnerable.
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