Maharashtra plans to take Rs 15,000 crore loan from ABD to build roads
NEW DELHI: Maharashtra PWD Minister Ashok Chavan on Monday said his government was planning to obtain loans to the tune of Rs 15,000 crore from the Asian Development Bank at a nominal rate to build roads and clear the work backlog in the state. Speaking to reporters here, Chavan said the backlog in road work […]
ADB, India sign $10 million loan to support project preparation to expand horticulture in Himachal Pradesh
NEW DELHI: The Asian Development Bank (ADB) and the Government of India on 30th December 2020 signed a $10 million project readiness financing (PRF) to help finance piloting activities, and design and capacity building for an ensuing project that aims to expand horticulture production and farm household income in the hill state of Himachal Pradesh. The […]
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 […]
Asian Development Bank to give Rs 2100 crore loan to Tripura for urban, tourism development
NEW DELHI: The Asian Development Bank (ADB) is likely to provide a Rs 2,100 crore loan to the Tripura government for the development of urban areas and tourism in the northeastern state that borders Bangladesh, officials said here on Tuesday. According to Tripura’s Urban Development and Tourism Department Secretary Gitte Kirankumar Dinkarrao, of the Rs […]
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 […]
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 , India sign $500 million loan for Delhi-Meerut RRTS Corridor
NEW DELHI: The Asian Development Bank (ADB) and the Government of India today signed a $500 million loan, the first tranche of a total $1 billion facility, to build a modern, high-speed 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor that will improve regional connectivity and mobility in India’s national capital region (NCR). The signatories […]
Ashok Lavasa named as new ADB vice-president
NEW DELHI: Election Commissioner Ashok Lavasa, who was next in line to head the poll panel, was on Wednesday named as the new vice-president of the Philippines-based Asian Development Bank (ADB) – a position he can take only after resigning from his current job. Lavasa, who would have retired as the Chief Election Commissioner (CEC) in […]
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 […]
Asian Development Bank approves Rs 1,650 crore infrastructure projects for 7 district towns in Tripura
NEW DELHI: The Asian Development Bank (ADB) has approved a project worth Rs 1,650 crore to develop infrastructure in seven district headquarter towns of Tripura, a senior official has said. The ADB will provide Rs 1,650 crore, out of which 80 per cent will be grant-in-aid and the state will have to repay 20 per […]
India, ADB sign $926 million loan agreement for Mumbai Metro Rail Project
NEW DELHI: The Asian Development Bank (ADB) and the Government of India signed a $926 Million Loan Agreement today to operationalize two lines for the Mumbai Metro Rail System that will ease the distress of millions of commuters each day and help provide a cleaner, less congested city. The Single Largest Infrastructure Project Loan in […]