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 and the purpose of each.
✅ Also Read: Loans and Grants Current Affairs 2023
Every year, the Government of India and all states 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 and interest over a specified period, typically through regular instalments.
- 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 are 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 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 |
Loans and Grants Current Affairs March 2024
| Sl. No. | Loans/Grants Provider | Amount | Received By | Purpose |
|---|---|---|---|---|
| 1 | Japan Bank for International Cooperation (JBIC) | USD 200 million | NTPC Limited | Foreign currency loans |
| 2 | Japan Bank for International Cooperation (JBIC) | Japanese yen (JPY) 20 billion | NHPC Ltd | Developing a 300 MW solar project in Bikaner, Rajasthan |
| 3 | World Bank | $452 million | Assam Government | Assam Resilient Rural Bridges Program |
| 4 | Asian Development Bank | $181 million | Government of India | Ahmedabad Peri-urban Livability Improvement Project |
| 5 | Under “Acing Development of Innovative Technologies with iDEX” (ADITI) Scheme (GOI) | Up to Rs 25 crore (grant-in-aid) | Start-ups in defence technologies | To promote innovations in critical and strategic defence technologies |
| 6 | Indo-Pacific Economic Framework for Prosperity | $33 million (Grant) | Indo-Pacific Economic Framework for Prosperity (IPEF) Partners | IPEF Catalytic Capital Fund under Pillar III Clean Economy Agreement |
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