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ADB approves $460 million loan for agricultural solarization in India

Banking & Finance | Dated: 31 Oct 2025

The Asian Development Bank (ADB) has approved a $460 million loan to support India's agricultural solarization and promote clean energy. An additional $40 million will be provided by the Clean Technology Fund (CTF). The project aims to benefit around 9 lakh agricultural consumers (farmers) by installing solar power systems.

🎯 Key Highlights:

  • The project is expected to be completed by 2028.
  • The initiative is projected to reduce carbon emissions by over 3 million tons annually.

💡 Other Important Facts:

  • The loan will help in reducing the subsidy burden on electricity distribution companies.
  • It promotes the use of renewable energy in the agricultural sector, aligning with India's climate goals.
  • The Clean Technology Fund (CTF) provides concessional financing for clean energy projects.

📚 Test Your Knowledge:

Which international financial institution approved a $460 million loan for agricultural solarization in India?

Correct Answer: Asian Development Bank (ADB)

🚀 Quick Recap:

About Asian Development Bank (ADB)

  • (i) Established: 19 December 1966 (ii) Headquarters: Mandaluyong, Metro Manila, Philippines (iii) President: Masatsugu Asakawa (as of Oct 2025) (iv) Members: 68 countries (49 from Asia-Pacific).