ADB to provide $6.25-b aid to India

PTI

http://www.thehindubusinessline.com/industry-and-economy/economy/article3387546.ece

Manila, May 5: 

The Asian Development Bank (ADB) will provide $6.25-billion assistance to India over three years for various projects, including those in the energy and education sectors.

“ADB’s three-year country operations business plan for India for 2012-2014 will provide lending assistance of $6.25 billion to support inclusive and environmentally sustainable growth,” the ADB Secretary, Mr Robert Dawson, told PTI.

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 $24.12 billion.

As one of the founder members of the lending agency, India’s association with the ADB dates back to 1966. However, ADB’s lending operations in India commenced in 1986, and New Delhi just completed 25 years of its partnership with Manila headquartered bank.