Question
What is the main objective of the $23 million loan
agreement between India and the Asian Development Bank (ADB)?Solution
The primary aim of the $23 million loan between India and the ADB is to establish an International Fintech Institute (IFI) in Gujarat's GIFT-City. This initiative is designed to foster innovation in the fintech sector, contributing to the development of financial technologies and supporting the growth of the fintech ecosystem within the region.
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