In December 2021, the _____________ approved a $500 million loan to the Government of India to help improve the quality of the country’s school education and mitigate the impact of the Covid-19 pandemic on the students’ learning.

Correct option is C

The correct answer is (c) Asian Development Bank.
 In December 2021, the Asian Development Bank (ADB) approved a $500 million loan to the Government of India.
 The loan aims to help improve the quality of school education in India and mitigate the impact of the Covid-19 pandemic on students' learning.
 This funding is part of efforts to strengthen the educational infrastructure and ensure that students receive a quality education despite the disruptions caused by the pandemic.
Information Booster:
Central Bank of Bahrain:
 The principal regulatory authority for Bahrain's financial sector.
 Not involved in providing educational loans to India.
European Central Bank:
 The central bank for the euro and responsible for monetary policy within the Eurozone.
 Primarily focuses on economic and financial stability within the European Union.
National Development Bank:
 A multilateral development bank established by BRICS nations (Brazil, Russia, India, China, and South Africa).
 Involved in financing infrastructure and sustainable development projects, but not directly linked to this specific loan.