ADB clears $350 million funding for 2 projects in India.

Asian Development Bank has made financial commitment of $350 million in loan and equity investment for two energy projects in India.

'The ADB has approved a multi-tranche loan facility of $300 million to help India's Assam state continue its drive to eliminate power sector inefficiencies that are hurting consumers and the economy,' the multilateral lending agency said in release recently.

In an equity investment of $50 million in a renewable energy company ReNew Power Ventures Private Ltd., it would help India meet clean energy targets.

'The ADB has made an equity investment of $50 million in a leading Indian renewable energy company ReNew Power Ventures Private Limited, underscoring ADB's commitment to help India meet its clean energy targets,' it said in a separate release.


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