Asian Development Bank (ADB) has signed an agreement for extending $450 million loan to Coastal Gujarat Power Limited (CGPL), a wholly-owned subsidiary of the Tata Power Company Limited executing the 4,000 MW Mundra Ultra Mega Power Project in Western Gujarat. According to an official ADB statement here, the bank will provide long-term financing of up to 20 years which will translate into a competitive power tariff for the benefit of the economy and power consumers.