The Asian Development Bank (ADB) said Tuesday it would loan $700 million to India for infrastructure projects to be developed by public-private partnerships. The loan would be released in three tranches over five years to state-owned India Infrastructure Finance Company Ltd, the Manila-based bank said. It aims to assist India in promoting public-private partnerships to increase employment opportunities and incomes as well as reduce poverty, the ADB was quoted as saying by the German Press Agency "DPA". "The facility is expected to enhance the availability of long-term funds for infrastructure and boost investor confidence when confidence is low," the bank said in a statement. The ADB said the aid would help India to meet its infrastructure investment target of $514 billion under its current five-year plan.
