The multilateral funding agency Asian Development Bank,ADB will provide 700 million US dollar loan to India for funding infrastructure projects in the country. According to a release by the Ministry of Finance, an agreement to this effect was signed in New Delhi on Tuesday. The loan would be released in three tranches over a period of three years. The first tranche will be of 210 million US dollar. The loan will be provided to Indian Infrastructure Finance Company Ltd (IIFCL) for supporting the government's infrastructure development agenda through enhancing the availability of the long-term funds for infrastructure financing.