ADB explains why RBI may slow down on rate cuts till next year
NEW DELHI: With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year […]
India, ADB sign $300 million loan to improve primary health care in India
NEW DELHI: The Government of India and the Asian Development Bank (ADB) have signed a $300 million loan to strengthen and improve access to comprehensive primary health care in urban areas of 13 states that will benefit over 256 million urban dwellers including 51 million from slum areas. Rajat Kumar Mishra, Additional Secretary, Department of […]
ADB, India sign $100 million loan to upgrade power distribution system in Bengaluru
NEW DELHI: Asian Development Bank (ADB) and the Government of India on 31st December 2020 signed a $100 million loan to modernise and upgrade the power distribution system to enhance the quality and reliability of electricity supply in Bengaluru city in the state of Karnataka. The signatories to the Bengaluru Smart Energy Efficient Power Distribution […]
ADB, India sign $231 million loan to enhance power generation capacity in Assam
NEW DELHI: The Asian Development Bank (ADB) and the Government of India on 30th December 2020 signed a $ 231 million loan to augment electricity generation capacity in the state of Assam through construction of a 120 megawatts (MW) hydroelectric power plant that will enhance availability of electricity for households. This is the third tranche […]
ADB approves $430 million to help rehabilitate power distribution networks in Uttar Pradesh
NEW DELHI: The Asian Development Bank (ADB) has approved a $430 million multitranche financing facility (MFF) to improve the quality and reliability of electricity supply in Uttar Pradesh in India. The Uttar Pradesh Power Distribution Network Rehabilitation Project will improve the efficiency and sustainability of power supply in Uttar Pradesh. The project will finance the […]
ADB, India sign $132.8 million loan to strengthen Meghalaya’s power distribution Sector
NEW DELHI: The Asian Development Bank (ADB) and the Government of India today signed a $132.8 million loan to strengthen and modernize the distribution network and improve the quality of power supplied to households, industries, and businesses in India’s northeastern state of Meghalaya. The signatories to the Meghalaya Power Distribution Sector Improvement Project were Dr. […]
Cargo movement issues likely to stay as supply chains resume: ADB
MUMBAI: As international trade gets back to normalcy with gradual lifting of lockdowns across countries, difficulties in cargo movement and clearance processes are likely to continue, said an Asian Development Bank (ADB) blog post. Emphasising the need for automations, the blog post said that although the South Asia Subregional Economic Cooperation (SASEC) countries have made […]
ADB approves $300 million loan to develop Rajasthan’s secondary towns
MANILA: The Asian Development Bank (ADB) has approved a 300 million dollar (about Rs 2,200 crore) loan to finance inclusive water supply and sanitation infrastructure and services in secondary towns of Rajasthan. The project is expected to build citywide access for improved water supply services for about 5.7 lakh people and enhanced sanitation services for […]
ADB approves $270 million for urban services improvement in Madhya Pradesh
MANILA: The Asian Development Bank (ADB) has approved a 270 million dollar (about Rs 1,988 crore) loan for the construction of water supply and integrated storm water and sewage management infrastructure in Madhya Pradesh. The loan is an additional financing intended to scale up the scope of the Madhya Pradesh urban services improvement project which […]
Indian economy to shrink 9 per cent in FY21: ADB
NEW DELHI: India’s coronavirus-battered economy will shrink by 9 per cent this fiscal, the Asian Development Bank (ADB) predicted on Tuesday saying growth outlook remains highly vulnerable to either a prolonged outbreak of the pandemic or a resurgence of cases. This will be the first time in four decades that the Indian economic growth will […]
Asian Development Bank approves $1.5 billion to support India’s COVID-19 response
NEW DELHI: The Asian Development Bank (ADB) today approved a $1.5 billion loan to the Government of India to help fund its response to the novel coronavirus disease (COVID-19) pandemic, including support for immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the […]
Asian Development Bank triples financial aid for members to $20 billion to fight virus
NEW DELHI: The Asian Development Bank (ADB) on Monday said it has tripled the size of its Covid-19 response package for its member nations to $ 20 billion. The multilateral funding agency said it has also approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 […]
India, ADB sign $200 million loan to improve rural connectivity in Maharashtra
NEW DELHI:The Asian Development Bank (ADB) and the Government of India today signed a $200 million loan to upgrade rural roads to all-weather standards in 34 districts of Maharashtra State to improve road safety and better connect rural areas with markets and services. The signatories to the loan agreement for the Maharashtra Rural Connectivity Improvement […]
India , ADB sign $110 million loan to improve rural connectivity in Madhya Pradesh
NEW DELHI: Government of India and Asian Development Bank (ADB) have signed a $110 million loan to finance the upgrade of 2,800 kilometers all-weather rural roads in the State of Madhya Pradesh under the Prime Minister’s Rural Roads Program (PMGSY). Tranche 2 loan is part of the $500 million Second Rural Connectivity investment Program for […]
India’s economy continues on robust growth path: ADB
NEW DELHI: India’s economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.3 per cent. However, depreciation of the rupee and volatile external financial markets pose challenges, the multilateral lending agency added, in an update of its flagship annual economic […]