ADB commits record USD 3.92 billion loan to India in 2020

The Asian Development Bank had provided emergency assistance to contain the disease and establish social protection measures for relief to the poor and other vulnerable groups in India. 

Created On: May 14, 2021 19:12 ISTModified On: May 14, 2021 19:12 IST
ADB

The Asian Development Bank informed on May 14, 2021 that it has committed a record USD 3.92 billion loan for 13 projects in India in 2020. 

The loan amount also includes the USD 1.8 billion in COVID-19 related projects to support the government's response to the pandemic. 

ADB's support to India in 2020

•The Asian Development Bank had provided emergency assistance to contain the disease and establish social protection measures for relief to the poor and other vulnerable groups in India. 

•It had also approved financing to help the Indian government improve equitable access to comprehensive primary health care in urban areas. 

•This was ADB's highest-ever annual lending commitment to India since the beginning of its lending operations in 1986.

•The bank has also committed USD 356.1 million through its non-sovereign operations to India, including three COVID-19 support projects.

The new projects committed by ADB in 2020 include:

-USD 500 million for the high-speed 82-kilometer Delhi-Meerut Regional Rapid Transit system corridor.

-The 120-megawatt hydroelectric power plant in Assam.
Energy sector loans to strengthen distribution network in Meghalaya, Maharashtra, Karnataka, Uttar Pradesh 

-ADB also approved loans for sustainable urban development in secondary and smaller towns in Rajasthan and Madhya Pradesh.

-The bank also granted funds to support West Bengal's fiscal consolidation programme. 

-It also committed funds to provide Tripura and Himachal Pradesh with capacity development support for planning and designing.

Future Projects

The Asian Development Bank is ready to provide additional resources to help India in its battle against COVID-19. 

•It is ready to provide funds to expedite the country's ongoing vaccination programme and build a resilient health care system that can hold against future shocks.

•It also aims to provide supplementary support to protect small businesses and underpin education and social protection.

•The bank had also continued its regular assistance to energy, transport, urban development and public sector management in India throughout 2020.

 

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS
Comment ()

Post Comment

8 + 4 =
Post

Comments