According to the bank website, "the project involves electrification of existing railway tracks spread across 13 states in India, being undertaken by Indian Railways Finance Corporation (IRFC). IRFC, has approached the Asian Development Bank (ADB) to consider a nonsovereign loan up to $750 million to meet a part of the funding requirements for railway track electrification. IRFC will lease the electrification assets to Ministry of Railways, under a long term lease agreement. The lease rentals paid by Ministry of Railways will be utilized by IRFC to service the ADB loan."
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 1
Responsible ADB Officer Choudhary, Mayank
Project Sponsor(s) Indian Railway Finance Corporation
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main