ADB to provide ₹5,200 cr to electrify railway tracks in India

The Asian Development Bank (ADB) on Wednesday said it will provide $750 million (over ₹5,200 crore) long-term financing to electrify railway tracks in India. This is the largest single non-sovereign loan ever committed by the funding agency. Indian Railway Finance Corporation (IRFC) will use the loan to install electric traction equipment along about 3,378 kilometres of existing railway lines.