Posted on : May 4, 2018

India wants the Asian Development Bank (ADB) to increase lending to the world’s fastest growing economy to help bridge funding requirement for infrastructure development.

 

As an extension of the dialogue , India will support the ADB’s plan to devote more resources for poverty alleviation and projects addressing climate change.

ADB commits about USD 3 billion investment in a year, including that from its the private sector lending arm, for India.

 

India is a founding member of the ADB and is currently the fourth largest shareholder and the largest borrower of the ADB sovereign lending since 2010.

Manila-based ADB has so far committed sovereign loans totalling USD 35.9 billion to India.

The ADB board of governors from 67 member nations meet in India on May 5 for the bank’s 51st annual meeting and deliberate on the theme- ‘Linking People and Economies for Inclusive Development’. (story courtesy: PTI)