- Asian Development Bank (ADB) inked an MoU with Indian Railway Finance Corporation (IRFC) to provide USD 750,000,000 loan to India for Railway Track Electrification Project.
- It will help the Indian railway sector transition to electric power and away from dependence on fossil fuels.
- IRFC will use the proceeds from the loan to install electric traction equipment along about 3,378 km of existing railway lines.
Published On : 24 May 2019
Current Affair
