The Asian Development Bank will increase its annual lending to India to a maximum of $4 billion between 2018 and 2022 to help fasten inclusive economic transformation towards upper middle-income status.
The proposal was endorsed at new ADB Country Partnership Strategy for 2018- 2022. The new lending programme, which includes private sector operations, is much higher than the average $2.65 billion a year in loans extended during 2012 and 2016.
Important Takeaways from Above News-
- ADB headquarters in Manila, Philippines.
- Takehiko Nakao is the President of ADB.
Source- The Hindu
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