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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