ADB committed to provide USD 3 billion in sovereign loans to India in 2018, the highest level of assistance since sovereign operations began in the country in 1986, stated the annual report of the multilateral lending agency.
In all, the Asian Development Bank (ADB), owned by 68 member countries, committed a total of USD 3.88 billion, including sovereign loans and co-financing during the year ended December 2018.
Source: Economic Times
Static/Current Takeaways Important for LIC AAO Exam:
- Asian Development Bank Headquarters: Manila, Philippines, President: Takehiko Nakao.