Loans and Grants in News 2022

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The government borrows from various international banks for various developmental works of the state and central government such as health services, road construction, irrigation projects, etc.

Also, the Government of India gives some grants for infrastructure development or any new projects of neighboring countries.

Economic Current Affairs is an integral part of the latest Current Affairs in various competitive exams, especially UPS, Banking, and SSC. And this topic loans and Grants is also a part of the latest economic current affairs.

So, in this post, we have provided the latest economic news related to loans and grants.

Loans and Grants 2022 (January to December)

Loans and Grants issued by Banks, November 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
Asian Development Bank (ADB)40 million USDGreenCell Express Private Limited (GEPL), Maharashtra, IndiaTo develop 5000 Electric Buses in India
Asian Development Bank (ADB)USD 350 million loan (2900 crore)Maharashtra State Road Improvement Project, IndiaTo improve road connectivity in Maharashtra
Asian Development Bank (ADB)USD 30 million loan for 5 yearsFarm Efficiency InitiativeFunding research and development of enhanced-efficiency fertilisers
KFW Development Bank Germany150 million Euro (about Rs. 1240 crore)State Bank of IndiaTo facilitated new and upcoming projects in the solar sector

Loans and Grants issued by Banks, October 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
World Bank (WB)USD 250 millionAndhra PradeshFor supporting Andhra’s Learning Transformation (SALT) project
MUFG BankRs 400 croreJSW Cement Ltd.For Capital expenditure with increasing focus on sustainablity.

Loans and Grants issued by Banks, September 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
World Bank (WB)USD 350 MillionGujaratTo improve the quality and access of its public health care services
World Bank (WB)USD 150 Million (nearly 1200 crores)PunjabFor the management of its financial resources and improved access to public services
Asian Development Bank (ADB)Rs. 4000 croreMaharashtra GovernmentTo set up 12 Medical Colleges in 12 districts

Loans and Grants issued by Banks, August 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
Asian Development Bank (ADB)USD 96.3 million (around Rs. 769 Cr. )Government of IndiaTo Improve Water Supply & Sanitation in Himachal Pradesh
Technology Development Board (TDB)Rs. 1.15 croresTGP Bioplastics Pvt. Ltd.For commercializing compostable plastic which will mitigate the usage of Single Use Plastics (SUP)
Government of IndiaGrants of USD 1 millionBay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)For BIMSTEC Secretariat’s operational budget

Loans and Grants issued by Banks, July 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
World BankUSD 200 MillionnIndiaFor Himachal Pradesh (HP) Power Sector Development Program
World BankUSD 1 BillionIndia’s Health SectorTo support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (ABHIM)
Asian Development Bank (ADB)USD 96.3 millionHimachal PradeshTo provide safe drinking water, sanitation services and improve water supply in Himachal Pradesh under the Himachal Pradesh Rural Drinking Water Improvement and Livelihood Project.
Japan International Cooperation Agency (JICA)100,000 million Japanese Yen (almost 6000 cr.)IndiaFor construction of third phase of Mumbai-Ahmedabad High-Speed Rail (MAHSR).

Loans and Grants issued by Banks, June 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
World BankUSD 250 millionGovernment of IndiaTo implement and support the Road Safety Program of government of India

Loans and Grants issued by Banks, May 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
Canara Bank & Additional Skill Acquisition Programme (ASAP) KeralaRs 5000 to Rs 1.5 lakhStudents loan for Skill developmentTo provide skill loans to students pursuing skill training programmes from Additional Skill Acquisition Programme (ASAP) Kerala or any other central or state government recognised agencies conducting National Skills Qualifications Framework (NSQF) or National Skill Development Corporation (NSDC) courses..

Loans and Grants issued by Banks, April 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
World Bank and the Asian Infrastructure Investment Bank (AIIB)Rs 7,500 croreGujaratTo implement the ‘Mission School of Excellence project’ of Gujarat. The project improve the quality of education, make infrastructure better and build skills,
Asian Development Bank (ADB)USD 100 million (Rs.760 crores)Louis Dreyfus Company (LDC), a French FirmTo help small farmers in countries such as India, Indonesia, Pakistan,Thailand and Vietnam to recover from the economic challenges posed by the pandemic (COVID-19) and improve their resilience to the effects of climate change
Asian Development Bank (ADB)USD 76.25 million (Rs 551 crore) Agartala Smart City Limited (ASCL)Revive lakes and water bodies of of Maharaja Bir Bikram College and Renovate and restore of Ujjayanta Palace

Loans and Grants issued by Banks, March 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
Indian Overseas BankRs 1,000 croreJammu and Kashmir Infrastructure Development Finance Corporation Ltd (JKIDFC)To accelerate infrastructure development projects across J&K

Loans and Grants issued by Banks, February 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
Asian Development Bank (ADB)Total USD 4.6 billionGovernment of India • USD 1.8 billion loan for COVID-19-related assistance

• USD 1.5 billion loan towards vaccine procurement.

• USD 300 million loan to strengthen primary health care (PHC) in urban areas
World BankUSD 115 million • $6 milion – Government of India (Land Resources depertment)

• $60 million – Karnataka government

• $49 million – Odisha government
To implement the REWARD Project in the states of Karnataka and Odisha
Asian Development Bank (ADB)$68-million loanIIFL Home Finance LimitedTo provide the financial support for affordable green housing for lower-income women borrowers in India

Loans and Grants issued by Banks, January 2022

Bank/OrganizationsLoan AmountReceived ByPurpose
Reserve Bank of India (RBI)US$ 900 millionSri LankaTo tackle forex crisis and shortage of almost all essential commodities due to a shortage of dollars.
Canara BankRs. 10 lakhMSME borrowerslow-cost business loans to micro, small and medium enterprises
World BankRs 1000 croregovernment of West BengalTo improve social protection service such as medical help through telemedicine, support for the elderly and differently-abled, financial inclusion of citizens with digital payments and disbursement of benefits for public schemes.

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