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ADB releases $150 mn for Khadi industry
07 Jan '10
1 min read
The Asian Development Bank (ADB) has approved a loan of Rs. 7.25 billion (US $150 million) for the development of India's khadi industry, informed the Micro, Small and Medium Enterprises Minister, Mr. Dinsha J Patel.
This loan will be released in four installments over a period of three years. The industry has received the first installment of $20 million recently, added the MSME Minister at the closing ceremony of 2nd National Khadi and Handicraft Mahotsav.
Second and third installments will be released after the eighth and 13th month respectively, and each would be of $ 40 million, while fourth and final installment of $50 million will be offered after the completion of 36 months for khadi reform program, he said.
This loan will be released in four installments over a period of three years. The industry has received the first installment of $20 million recently, added the MSME Minister at the closing ceremony of 2nd National Khadi and Handicraft Mahotsav.
Second and third installments will be released after the eighth and 13th month respectively, and each would be of $ 40 million, while fourth and final installment of $50 million will be offered after the completion of 36 months for khadi reform program, he said.
Fibre2fashion News Desk - India
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