ATL’s $700mn revolving facility gets ‘green loan’ tag
Adani Transmission Limited (ATL) has bagged the coveted green loan tag by Sustainalytics for its revolving facility worth $700 million. This provides assurance on the green loan framework for ATL’s revolving facility.
The firm provides analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies.
A revolving loan facility is a flexible borrowing mechanism that enables the borrower to withdraw, repay, and withdraw again. MUFG Bank has acted as green loan coordinator to the issuer for arranging the second-party opinion (SPO) on green loan framework prepared by ATL.
The projects associated with the $700 million flexible loan facility are being set up in Gujarat and Maharashtra. In Gujarat, these projects are part of the government’s green energy corridor projects (GEC), dedicated to the evacuation and transmission of renewable energy.
Iran applies to join BRICS group of emerging countries
Iran has submitted an application to become a member in the group of emerging economies known as the BRICS.
Iran’s membership in the BRICS group, which includes Brazil, Russia, India, China and South Africa.
Russia has long been pushing to forge closer ties with Asia, South America and the Middle East, but it has intensified its efforts recently to weather sanctions imposed by Europe, the United States and other countries over its invasion on Ukraine.
Hamad International Airport named World’s Best Airport 2022
Qatar’s Hamad International Airport has been named the World’s Best Airport for the second year running. The announcement took place at the Skytrax 2022 World Airport Awards, held at Passenger Terminal EXPO in Paris, France.
- Kempegowda International Airport, Bengaluru (BLR Airport)was named the finest regional airport in India and South Asia. Customers voted for the airport with the greatest customer service every year in a global study, and BLR Airport received this honour.
- Singapore Changi Airport(World’s Best Airport Staff Service and World’s Best Airport Dining).
- Istanbul Airport(World’s Best Airport Shopping and Most Family-Friendly Airport).
World Bank approves $250 mn loan for road safety
The World Bank has approved a $250 million loan to support the Government of India’s road safety programme for seven States under which a single accident reporting number will be set up to better manage post-crash events.
The India State Support Program for Road Safety, financed by the World Bank, will be implemented in Andhra Pradesh, Gujarat, Odisha, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal. The $250 million variable spread loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18 years including a grace period of 5.5 years.
The project will also establish a national harmonised crash database system in order to analyse accidents and use that to construct better and safer roads.
It will also fund network expansion of basic and advanced life support ambulances and training of first responder caregivers to road crash victims on the spot.
The project will also provide incentives to the States to leverage private funding through Public Private Partnership (PPP) concessions and pilot initiatives.
According to a World Bank study, road crashes are estimated to cost the Indian economy between 5% to 7% of GDP a year. Official government data show that each year road accidents in India kill about 1,50,000 people and injure another 4,50,000. More than half of the victims are pedestrians, cyclists, or motorcyclists and almost 84% of all fatalities are among road users between the working ages of 18-60 years.
India successfully conducts VL-SRSAM missile test off the coast of Odisha
Off the coast of Chandipur, in the state of Odisha, India successfully tested the Vertical Launch Short Range Surface to Air Missile (VL-SRSAM). Defence Research and Development Organization (DRDO) and Indian Navy successfully conducted flight tests for the Vertical Launch Short Range Surface to Air Missile (VL-SRSAM). Off the coast of Chandipur, Odisha, the launch was carried out from an Indian Naval Ship.
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