Asian Development Bank raise granting India to USD 3 billion

Initiator: Asian Development Bank (ADB)

Purpose: To enhance its lending to India to USD 3 billion this year to support ‘robust growth’ in the country.

Discussion of ADB President Takehiko Nakao :

• About increase lending to India
• More requirements of infrastructure funding to India.

About ADB:

• ADB has approved 197 sovereign loans totalling USD 33.1 billion.
• As on December 31, 2015, the portfolio included 84 ongoing sovereign loans amounting to USD 11.4 billion.

His Contributions and his gratitudes:

• He completed a strong replenishment of ADF 12 for the period 2017-20.
• He thanked the 32 donors for their generous contributions, despite difficult fiscal situations in some of your countries.

Contributions from emerging Asian economies:

It is increased to 11.7 per cent, compared with 6.9 per cent during the ADF 11 period.

Innovative features:

• Doubling of the minimum allocation for small countries
• Strengthened support for disaster risk management
• Regional health security

His considerations:

• Being sought of capital increase in the medium term to respond to the huge and growing financing needs.
• To reflect changing economic circumstances in the region.

Special Importance:

• Bank will give priority to fragile and conflict affected countries
• ADB will continue to help create quality jobs.
• Paying attention to good working conditions and core labor standards.

Future Goals

• The bank is committed to double financing for this to USD 6 billion by 2020 from the current level of USD 3 billion
• Strategy 2030 will help define approach to the Sustainable Development Goals and COP21.