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
  • India bans 16 Pakistani YouTube channels with 63 million subscribers for spreading provocative content post-Pahalgam attack.

    Read More....
  • Swiss President visits US to negotiate trade tariffs; foreign minister seeks stronger ties with China.

    Read More....
  • Israel launches air strike on Hezbollah facility in Beirut despite ceasefire agreement.

    Read More....
  • Japan and Vietnam strengthen trade and tech collaboration amid global tariff tensions.

    Read More....
  • Putin praises North Korean troops fighting alongside Russia in Ukraine conflict.

    Read More....
  • India loses 4-1 to Denmark in Sudirman Cup; only win comes in women's doubles.

    Read More....
  • Tigst Assefa sets women-only world record in London Marathon; Alex Yee finishes 14th.

    Read More....
  • Dubai unveils strategy to become global AI leader beyond oil-driven economy.

    Read More....
  • Jamshedpur FC beats NorthEast United in penalties to reach Kalinga Super Cup 2025 semi-finals.

    Read More....
  • India's industrial output grows 3% in March 2025, reflecting signs of recovery.

    Read More....