India and ADB sign a $60 Million Loan Agreement to reduce floods and the riverbank erosion in Assam

  • The Asian Development Bank (ADB) and the Government of India has signed a $60 Million Loan Agreement to continue financing riverbank protection works, renovation of flood embankments, and community-based flood risk management activities in critically flood-prone areas along the Brahmaputra River in Assam.
  • The loan will have a 20-year term, including a grace period of 5 years, an Annual Interest Rate determined in accordance with ADB’s lending facility based on the London Interbank Offered Rate (LIBOR), and a commitment charge of 0.15% per year.
  • The Tranche 2 loan is part of the $120 million multi-tranche financing facility (MFF) for the Assam Integrated Flood and Riverbank Erosion Risk Management Investment Program approved by the ADB Board in October 2010.