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2010-01-08

ADB to give loan to khadi industry

The Asian Development Bank (ADB) has sanctioned a loan of Rs 725 crore (USD 150 million) for the development of the khadi industry. This was stated by the Union Micro, Small and Medium Enterprises Min

The Asian Development Bank (ADB) has sanctioned a loan of Rs 725 crore (USD 150 million) for the development of the khadi industry. This was stated by the Union Micro, Small and Medium Enterprises Minister Dinsha J Patel at the closing ceremony of the second National Khadi and Handicraft Mahotsav in Jamshedpur.

 

According to the minister the loan will be given in four installments over a period of three years. The second (USD 40 million) installment will be given after eight months, third after 13 months and the last after 36months. The amount in the second and third installment will be equal while that in the last installment will be USD 50 million.

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