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    Question

    L&T Finance, signed a financing agreement with the Asian Development Bank (ADB)to support financing in rural and peri-urban areas, particularly for women borrowers.With respect to the above information consider the following statements - 

    I.The financing agreement signed with ADB amounts to $150 million so as to support financing in rural and peri-urban areas.

    II.Apart from this funding from ADB, it also includes an agreement to syndicate an additional $125 million co-financing from other development partners.

    III. Out of the proceeds, 40 per cent is allocated for women borrowers, while the rest will support farmers and MSMEs, as well as loans to purchase new two-wheeled vehicles.

    Which of the following statements is/are correct? 

    A Only I Correct Answer Incorrect Answer
    B Only I & II Correct Answer Incorrect Answer
    C Only III Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    L&T Finance, signed a financing agreement with the Asian Development Bank (ADB) for $125 million to support financing in rural and peri-urban areas, particularly for women borrowers.  Apart from the funding of $125 million from ADB, it also includes an agreement to syndicate an additional $125 million co-financing from other development partners.  Out of the proceeds, 40 per cent is allocated for women borrowers, while the rest will support farmers and MSMEs, as well as loans to purchase new two-wheeled vehicles.

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