Current Affairs - Banking - Discussion

In order to support road sector investment plans of the Indian government, Asian Development Bank(ADB) has signed an agreement to invest $23 million in non-convertible debentures(NCD) being issued by GRIL(GR Infraprojects Limited). This investment will promote the GRIL's ability for the construction of roads and highways in India through the purchase of new building equipment & help execute its existing order book of $ 2.78 billion and enable it to bid for larger and more complex infrastructure projects. The agreement was signed by Michael Barrow, Director General of ADB's Private Sector Operations Department and Vinod Kumar Agarwal, GRIL Chairman and Managing Director.