India to receive $6.25 billion assistance from ADB

 

               India will receive an assistance of USD 6.25 billion from the Asian Development Bank (ADB) over three years for the purpose of various important projects, including those in the most needed power, energy and education sectors.

            ADB’s three-year country operations business plan for India for 2012-2014 will provide lending assistance of USD 6.25 billion to support inclusive and environmentally sustainable growth.

            The lending support will go to key areas like transport, energy, urban development, agriculture natural resource management, finance and education. Prior to this, ADB has approved 159 loans (sovereign and non-sovereign) for India amounting to USD 24.12 billion. India’s association with the ADB dates back to 1966.

            ADB’s lending operations in India commenced in 1986, and New Delhi just completed 25 years of partnership with the Manila headquartered bank. ADB has a number of total 67 members, of which 48 are from Asia only. The US and Japan are the largest shareholders of the bank while India is the fifth largest.

            India needs this type of assistance quite regularly, as they are still a developing nation. And those sectors need to be developed properly to set up the infrastructures for the overall growth. So this will eventually help India a lot.