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ADB lends record USD 4.6 bn loans to India in 2021

Asian Development Bank: ADB lends record USD 4.6 bn loans to India in 2021_50.1

As per the data official released by the Asian Development Bank (ADB), it provided a record USD 4.6 billion in sovereign lending to India in 2021. This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response. The ADB’s regular funding programme to India is made to support transport, urban development, finance, agriculture, and skills building. The ADB’s project portfolio in 2021 reflected the Indian government’s focus on transforming cities into economically vibrant and sustainable communities.

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The USD 4.6 billion was committed by ADB for 17 loans. The USD 1.8 billion COVID-19-related assistance included USD 1.5 billion for vaccine procurement and USD 300 million to strengthen primary health care in urban areas and the country’s future pandemic preparedness.

Important takeaways for all competitive exams:

  • Asian Development Bank Headquarters: Mandaluyong, Philippines;
  • Asian Development Bank President: Masatsugu Asakawa (from 17 January 2020);
  • Asian Development Bank Membership: 68 countries;
  • Asian Development Bank Founded: 19 December 1966.

Current affairs 2022

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