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Tag: Adb

Fighting COVID-19: ADB assures USD 2.2 bn support package to India
Fighting COVID-19: ADB assures USD 2.2 bn support package to India

New Delhi: Asian Development Bank (ADB) President Masatsugu Asakawa on Friday assured Finance Minister Nirmala Sitharaman of USD 2.2 billion (about Rs 16,500 crore) support to India in its fight against the COVID-19 pandemic. In a call, Asakawa commended the Indian government’s decisive response to the pandemic, including a national health emergency program, tax and […]

ADB cuts India GDP growth forecast to 7% for FY20; fastest growing major economy tag remains

New Delhi: Asian Development Bank (ADB) Thursday lowered the growth forecast for India from 7.2 to 7 per cent for the current fiscal, due to moderation in growth prospects for the advanced economies which could adversely affect tradable services. ADB, however, maintained that India would continue to remain the fastest growing major economy ahead of […]

ADB approves Rs 1,650 crore infra projects in Tripura

Agartala: The Asian Development Bank (ADB) has approved projects for infrastructure development worth Rs 1,650 crore ($235 million) in seven of the eight district headquarter towns in Tripura, an official release said here on Sunday. The release said that the Urban Development Department of Tripura government had submitted the projects’ details to the ADB through […]

ADB to provide Pakistan $3.4 billion loan for budgetary support

Islamabad: The Asian Development Bank (ADB) would provide a loan of $3.4 billion to Pakistan for budgetary support, a Minister has confirmed. The announcement was made by federal Minister for Planning, Development and Reforms Khusro Bakhtiar at a press conference on Saturday, adding that an agreement had been reached between the ADB and the Finance […]

Odisha govt, ADB sign agreement for skill development

Bhubaneswar: The Odisha government on Monday signed a loan agreement of $85 million with Asian Development Bank (ADB) to train 1.5 lakh youths in the state, officials said. With this assistance, youths in the age group of 15-34 years will be given skill development training to make them competent to get better work and higher […]

India seeks $4 bn assistance from Asian Development Bank

New Delhi: India on Friday requested the Asian Development Bank (ADB) to expand its sovereign and non-sovereign operations in the country by providing financial assistance worth $4 billion a year and support its sustainable growth. Economic Affairs Secretary Subhash Chandra Garg, who is leading India’s delegation to Manila, requested ADB President Takehiko Nakao to support […]

Set up regional hub in New Delhi, Jaitley urges ADB

Yokohama: Finance Minister Arun Jaitley on Saturday urged the Asian Development Bank (ADB) to set up a regional hub for South Asia in New Delhi so that the majority of proposals could be processed speedily. Addressing the ADB Board of Governors here, Jaitley said there was need to look at processes and procedures for which […]

solar power
India, ADB sign loan agreement for solar power transmission system

New Delhi: India and the Asian Development Bank (ADB) have signed a loan agreement to improve the country’s solar power transmission system. “India and ADB have on Thursday signed a $175 million loan agreement to support construction of high voltage transmission systems to evacuate power generated from new mega solar parks to the interstate grid, […]

chief secy
Odisha included in East Coast Economic Corridor

Bhubaneswar: Odisha on its persistent demand has been included in East Coast Economic Corridor (ECEC), which would cover approximately 1,700 km of coastline in the country, an official statement said here on Friday. The proposed corridor would be implemented under the joint aegis of the Union and Odisha governments and the Asian Development Bank (ADB), […]

ADB lends $120 mn for improving irrigation in Odisha

New Delhi: India signed a $120 million loan agreement with the Asian Development Bank (ADB) here on Tuesday to improve irrigation and water management infrastructure in Odisha. “The financing will be used for modernising seven irrigation sub-projects, resulting in improved irrigation in over 100,000 hectares, and strengthening the institutional capacity of Odisha’s water resources,” the […]