The President of the Asian Development Bank (ADB) Takehiko Nakao committed to increase lending to India over upcoming years on Tuesday.
Speaking after a meeting with India’s Finance minister and Minister of Urban Development, Mr Nakao, said,
“In India, ADB aims at increasing tis sovereign and non-sovereign lending from the present $7 million - $9 billion in three years from 2015 2017 to $10 billion $12 billion between 2016 and 2018 using ADB’s expanded lending capacity.”
The ADB’s annual lending capacity is expected to increase from $13 billion to $20 billion this year.
India submits feasibility proposal to ADB for bridge to North-East (17 Jun 2015)