West Bengal Gets $300 Million ADB Loan

Multilateral funding agency ADB has sanctioned a USD 300 million loan facility for carrying forward fiscal reforms in West Bengal. The board of Asian Development Bank (ADB) approved a loan of USD 300 million to continue a comprehensive series of fiscal reforms in West Bengal. West Bengal, for the first time in 2012 had received a USD 400 million from ADB, its first policy-based lending with an aim to create a fiscal space necessary to sustain higher public investment in the eastern India.