Press Esc to close
Wednesday 04 March 2015
News updated at 9:19 AM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

ADB to provide $6 billion to India over next 3 years

Greater Noida, May 5, 2013 (PTI):
 ADB President Takehiko Nakao addressing a press conference during last day of the 46th Annual Meeting of the Board of Governors of ADB in Greater Noida on Sunday. PTI Photo

The Asian Development Bank (ADB) today said it will provide about USD 6 billion loan to India over the next three years, even as the multilateral lender stated it is facing the challenge of raising resources.

"Our idea is ADB will maintain its lending level to India, approximately USD 2 billion over next three years. "We are now working on the country partnership strategy and we are planning to maintain the level of lending to India," ADB President Takehiko Nakao said at the concluding day of the 46th annual meeting of the funding agency here. India is the biggest borrower of ADB.

The Manila-based multilateral lender had extended USD 2.4 billion loan to India in 2012 across sectors like transport, energy, commerce, industry, trade and finance.

Asked about whether ADB has identified projects, Nakao said it is too premature to talk about any specific ones but ADB team is looking at various concrete projects.

He also said that the bank will continue to lend USD 10 billion a year across the member-nations despite generating lower return from investments.

Stating that ADB is facing a resource challenge, he said this issue will require urgent and careful attention. "We will look at all options for ensuring that our lending level remains adequate."

Actively investing in different kinds of assets can be one of the options for larger revenue, he said, adding that "financial safety and return is the key objective while making investment".

Asked whether there was discussion on augmenting the capital of the bank at the Board of Governors meeting, Nakao said: "That is a very difficult issue. At this point I want to mention what kind of objections we are getting to maintain the level of lending. I don't want to specify what kind of idea we have at this moment."

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


Go to Top

Photo Gallery
Ireland's George Dockrell is bowled for 25 runs by South Africa's Morne Morkel to end their Cricket

Ireland's George Dockrell is bowled for 25 runs by South Africa's Morne Morkel to end their Cricket

The debris is being cleared after landslides on Jammu-Srinagar Jammu National Highway

The debris is being cleared after landslides on Jammu-Srinagar Jammu National Highway

Artist staged a play Visa Nirikshaneyelliddaga at the inauguration of Dalita Natakotsava

Artist staged a play Visa Nirikshaneyelliddaga at the inauguration of Dalita Natakotsava

Badly damaged road in Bengaluru

Badly damaged road in Bengaluru

A Zimbabwe farm worker harvests tobacco at a farm ahead of the tobacco selling season starting on We

A Zimbabwe farm worker harvests tobacco at a farm ahead of the tobacco selling season starting on We

Snowfall in Kashmir

Snowfall in Kashmir

Britain's Queen Elizabeth and Mexico's President Enrique Pena Nieto ride a carriage as they leave Ho

Britain's Queen Elizabeth and Mexico's President Enrique Pena Nieto ride a carriage as they leave Ho

A model presents a creation by French designers Francois Alary and Ophelie Klere as part of their

A model presents a creation by French designers Francois Alary and Ophelie Klere as part of their

A general view of the 85th International Motor Show in Geneva

A general view of the 85th International Motor Show in Geneva

Kenya Wildlife Service rangers burn 15 tonnes of ivory confiscated from smugglers and poachers to ma

Kenya Wildlife Service rangers burn 15 tonnes of ivory confiscated from smugglers and poachers to ma

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523