Stay updated on the latest loans and grants in 2024 with our month-wise list of current affairs. In this article, we present loan agreements and grants in a tabular format, providing information on the loan and grant amounts, as well as the purpose of each.
✅ Also Read: Loans and Grants Current Affairs 2023
Every year, the Government of India and all states in the country frequently secure loans from various international banks to fund essential development projects, including healthcare, road construction, and irrigation. These loans play a vital role in supporting the economic growth of both state and central governments. So, in this article, I provide a comprehensive “list of Loan Agreements for India from Different Organizations”.
What is a Loan?
- A loan is a financial tool that allows individuals, businesses, or governments to borrow money from a lender.
- The borrower agrees to repay the loan amount along with interest over a specified period, typically through regular installments.
- Loans serve various purposes, such as buying a home, starting a business, or covering education and medical expenses.
- They can be secured, requiring collateral like a home or car, or unsecured with no collateral.
What is Grants?
- Grants, on the other hand, are a form of financial aid that doesn’t require repayment.
- Governments, foundations, or organizations award grants to individuals, businesses, or nonprofits for specific purposes like research, education, community development, or social services.
- Grants can be based on merit or need and come in different sizes, making them an appealing source of financing without the obligation of repayment.
Loans and Grants Current Affairs 2024 [January to December]
Loans and Grants Current Affairs January-February 2024
Sl. No. | Loan Provider | Loan Amount | Received By | Purpose |
---|---|---|---|---|
1 | New Development Bank (NDB) | $500 million | Gujarat Government | Development of rural roads |
2 | Asian Development Bank (ADB) | $200 million | Government of India | For Climate Resilient Brahmaputra Integrated Flood and Riverbank Erosion Risk Management Project |
3 | Odisha (State Government) | Financial support for youths under the ‘Swayam’ scheme | Youths of the state (under ‘Swayam’ scheme) | Youths of the state (under the ‘Swayam’ scheme) |
4 | Japan | 232.209 billion yen | India | Establishment of the International Fintech Institute (IFI) at Gujarat International Finance Tec-City (GIFT City) |
5 | Asian Development Bank (ADB) | USD 23 million | Gujarat Government | Establishment of International Fintech Institute (IFI) at Gujarat International Finance Tec-City (GIFT City) |
6 | Government of India | Rs 10,000 (interest-free) | Flue Cured Virginia (FCV) Tobacco growers in Andhra Pradesh | Financial support for FCV Tobacco growers in Andhra Pradesh |
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