India: Cofinancing

Cofinancing operations enable ADB’s financing partners, governments or their agencies, multilateral financing institutions, and commercial organizations, to participate in financing ADB projects. The additional funds are provided in the form of official loans and grants, technical assistance, other concessional cofinancing, and commercial cofinancing, risk transfer arrangements, parallel loans and equity, guarantee cofinancing, and cofinancing for transactions under ADB’s Trade Finance Program.

By the end of 2015, cumulative direct value-added (DVA) official cofinancing for India amounted to $2.4 billion for 23 investment projects, and $109.95 million for 115 technical assistance projects. Cumulative DVA commercial cofinancing for India amounted to $1.3 billion for 15 investment projects.

In 2015, India received $625 million loan cofinancing from KfW for the Green Energy Corridor and Grid Strengthening Project, $280 million loan cofinancing from the Japan International Cooperation Agency for the first tranche of the Clean Energy Finance Investment Program, and $6 million loan cofinancing from the Clean Technology Fund for the Off-Grid Prepaid Solar Leasing Project.

India: Projects Cofinanced, 1 January 2011-31 December 2015

Cofinancing No. of Projects Amount ($ million)
Projectsa 19 2,392.99
 Grants 3 6.30
 Official loans 5 1,452.00
 Commercial cofinancing 11 934.69
Technical Assistance Grants 43 41.40

a A project with more than one source of cofinancing is counted once.

Investment Projects Cofinanced for India, 1 January 2011-31 December 2015

Project ADB Amounta ($ million) Cofinancing Amount ($ million) Type of Cofinancingb
Clean Energy Finance Investment Program – Tranche 1 200.00 553.00 O
Credit Enhancement of Project Bonds 128.00 74.70 C
Dahanu Solar Power Private Limited 48.00 65.00 C
Dahej Liquiefied Natural Gas Terminal Expansion Phase III 150.00 52.98 C
Green Energy Corridor and Grid Strengthening Project 500.00 625.00 O
Himachal Pradesh Clean Energy Development Investment Program - Tranche 4 315.00 200.00 O
Karnataka Integrated Urban Water Management Investment Program – Tranche 1 75.00 1.80 G
Livelihood Improvement for River Erosion Victims in Assam   – 2.50 G
Microfinance Risk Participation Program 240.00 137.07 C
National Grid Improvement Project 750.00 140.75 C
Ocean Sparkle Expansion Project 40.00 16.25 C
Off-Grid Prepaid Solar Leasing - 6.00 O
Rajasthan Renewable Energy Transmission Investment Program - Tranche 1 62.00 88.00 O
Rajasthan Urban Sector Development Program 500.00 2.00 G
Renew Power Investment 50.00 20.00 C
Rural Education Project 2.00 0.75 C
Shapoorji Affordable Housing Project 35.00 102.60 C
Solar and Wind Power Development Project 50.00 238.07 C
Strengthening Rural Financial Inclusion and Farmer Access to Markets Project – Axis Bank Limited and YES Bank Limited 200.00 86.52 C

- = nil.
a Loan, grant or blend.
b C = commercial cofinancing, G = grant cofinancing, O = official cofinancing.