ADB commits USD 2.6 billion in sovereign lending to India

ADB commits USD 2.6 billion in sovereign lending to India

Daily Current Affairs / ADB commits USD 2.6 billion in sovereign lending to India

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Category : Business and economics Published on: May 31 2024

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In 2023, the Asian Development Bank (ADB) committed USD 2.6 billion (approximately Rs 21,500 crore) in sovereign lending to India.
This funding is designated for strengthening urban development, supporting industrial corridor development, promoting power sector reforms, building climate resilience, and enhancing connectivity across the country.
Additional Financial Support and Private Sector Investments: Alongside the sovereign lending, ADB extended USD 23.53 million in technical assistance and USD 4.1 million in grants.
Moreover, ADB committed over USD 1 billion for private sector projects in India during the past year, reflecting its comprehensive approach to supporting both public and private sector development.

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