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