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

Change Language English Hindi

Category : Business and economics Published on: May 31 2024

Share on facebook
  • 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.
Recent Post's

  • NPC will celebrate its 68th Foundation Day on 12 Feb 2026 and observe National Productivity Week focused on MSME cluster growth.

    Read More....

  • The Centre launched White Revolution 2.0 to boost dairy cooperatives and raise milk procurement by 50% by 2028–29.

    Read More....

  • A copper artefact in Egypt has been reclassified as an early bow drill, suggesting advanced engineering 2,000 years earlier than believed.

    Read More....

  • Two Aravind Eye Care doctors won the 2026 Chang-Crandall Award for global cataract blindness service.

    Read More....

  • NATO launched Arctic Sentry to coordinate Arctic defence exercises amid rising regional competition.

    Read More....

  • Delhi announced Lakhpati Bitiya Yojana to reduce school dropouts among girls. The scheme provides milestone-based financial deposits.

    Read More....

  • The US and South Korea launched an expanded Buddy Squadron air drill to strengthen joint defence readiness.

    Read More....

  • Odisha CM unveiled books by Biswabhusan Harichandan on history and culture. The event honoured his public life.

    Read More....

  • IAF will conduct Exercise Vayushakti-26 to showcase combat power and disaster response capability.

    Read More....

  • National Livestock Mission expanded subsidy and insurance coverage. It promotes rural livestock entrepreneurship.

    Read More....