The Sipat Thermal Power Project is part of the first loan syndication deal of an Indian corporation under the Asian Development Bank’s Complementary Finance Scheme. This is a relatively new multitranche instrument of the Bank through which US$300 Million (approximately Rs 13.15 Billion) has been loaned to the public sector, the National Thermal Power Corporation (NTPC). It is apparent that ADB’s finance scheme should have strictly followed the safeguards, providing a window for redressal of grievances.
By Ramamurthi Sreedhar
