Gurujobalert

The Asian development Bank (ADB) and Government of India have signed loan agreement to improve rural roads. In this context, which of the following statement is/are correct?
1. The loan amount is the first tranche of &800 million financing facility.
2. The project includes the construction of 3461 km of all - weather rural roads in 5 states.
3. The first phase of the project will be completed in December, 2015

a

  Only 1

b

 Only 3

c

 Both 1 & 3

d

 Both 2 & 3

e

 All are correct

Answer : Option E
Explanation :
ADB and the Government of India signed a $252 million loan to improve rural roads. The interest rate for the loan has to be determined in accordance with ADB's LIBOR - based lending facility.
500
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