IR likely to raise loan of $750 million from ADB

IR is likely to raise a loan of Rs 51.88 billion ($750 million) from the Asian Development Bank (ADB) through IRFC for electrification of 3,378 km of railway lines (part of 16 sub-projects) to be implemented in 13 states. In March 2018, the government had signed the loan agreement with ADB for funds amounting to Rs 7,808.46 million ($120 million) for financing the Railway Sector Investment Programme. The projects included under the programme were doubling of the Hospet-Tinaighat railway section, the Sambalpur-Titlagarh railway line doubling, doubling of a railway track on the Raipur-Titlagarh section, doubling of the Daund-Titlagarh rail section, and electrification of the Pune-Wadi-Guntakal railway line.