Jagran Josh Logo
  1. Home
  2.  |  
  3. Economy Current Affairs |  

Asian Development Bank to provide 6 billion Dollars to India over next 3 years

May 6, 2013 12:45 IST

Asian Development Bank (ADB) on 5 May 2013 announced that it is going to provide about 6 billion dollars loan to India over the next three years which was decided at the concluding day of the 46th annual meeting of the funding agency.

Although, the ADB is facing the challenge of raising resources, the basic idea behind providing loan is to maintain its lending level to India. The bank is working on partnership strategy and is planning to maintain the level of lending to India.



It is important here to note that India is the biggest borrower of ADB and ADB had extended a 2.4 billion dollars loan to India in 2012 across sectors like transport, energy, commerce, industry, trade and finance.

The bank will also continue to lend10 billion dollars a year across the member-nations despite generating lower return from investments.

ADB’s capital was tripled in 2009. The fund enhancement came after a gap of 15 years.

 

Is this article important for exams ? Yes32 People Agreed
Read more Current Affairs on: Asian Development Bank , loan , ADB , India

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

Newsletter Signup
Follow us on
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK