CURRENT AFFAIRS : BANKING & FINANCE
Asian Development Bank to provide Rs 754 cr loan to SAEL Industries
- The Asian Development Bank (ADB) and SAEL Industries Limited have signed an agreement for a loan of up to ₹754 crores.
- The loan agreement is to promote the generation of biomass energy using agricultural residue, helping diversify India’s energy mix and reduce carbon intensity.
Key Highlights :
- ADB’s funding will be used for the construction of 5 biomass power plants in Rajasthan.
- These 5 biomass power plants will be constructed in the districts of Bikaner, Churu, Hanumangarh, Jhunjhunu, and Sikar.
- Due to burning of crop stubble by farmers to remove paddy residue, fine particulate matter (PM 2.5) levels and air pollution rise.
