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.
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)