Press Esc to close
Friday 25 July 2014
News updated at 3:06 AM IST
Weather
Max: 27.9°C
Min : 21.3°C
In Bangalore
Sunny day

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
India's Sanjita Khumukcham completes a lift during the 48-kg women's weightlifting event...

India's Sanjita Khumukcham completes a lift during the 48-kg women's weightlifting event...

Sachin Tendulkar speaks at the launch of the campaign “Shuddh Paani, Swastha Bharat” to curb...

Sachin Tendulkar speaks at the launch of the campaign “Shuddh Paani, Swastha Bharat” to curb...

Kajol with her mother actress Tanuja at a seminar on breast cancer in Pune...

Kajol with her mother actress Tanuja at a seminar on breast cancer in Pune...

Hironori Kanayama, President & CEO 0f Honda Cars India Ltd. and Yoshiyuki Matsumoto...

Hironori Kanayama, President & CEO 0f Honda Cars India Ltd. and Yoshiyuki Matsumoto...

School students wades through a flooded street after heavy rains in Ahmedabad...

School students wades through a flooded street after heavy rains in Ahmedabad...

Aishwarya Rai Bachchan at a promotional event in Glasgow on Wednesday...

Aishwarya Rai Bachchan at a promotional event in Glasgow on Wednesday...

Monsoon clouds over Taj Mahal in Agra...

Monsoon clouds over Taj Mahal in Agra...

A over view of fireworks that gallored the sky at Celtic Park during the opening ceremony...

A over view of fireworks that gallored the sky at Celtic Park during the opening ceremony...

A  man rows his boat on a river in Buthidaung...

A man rows his boat on a river in Buthidaung...

A worker sorts coffee berries at a factory in Kienjege, Nairobi...

A worker sorts coffee berries at a factory in Kienjege, Nairobi...

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