Government of India & Asian Development Bank signs a 200 million dollar loan for expanding urban services in Rajasthan

July 28, 2023 9:37 PM

Government of India & Asian Development Bank signs a 200 million dollar loan for expanding urban services in Rajasthan

The Government of India and the Asian Development Bank today signed a 200 million dollar loan for expanding urban services in Rajasthan. The Finance Ministry said, this will provide finance for the ongoing Rajasthan Secondary Towns Development Sector Project to expand water supply and sanitation systems and enhance urban resilience. This will improve water supply systems in at least seven towns by converting all groundwater sources to surface water, and by installing one thousand 400 kilometre o...

ADB retains India's growth forecast at 6.4 percent for current financial year

July 19, 2023 2:05 PM

ADB retains India's growth forecast at 6.4 percent for current financial year

The Asian Development Bank (ADB) today retained India's economic growth forecast at 6.4 percent for the current financial year and 6.7 percent for the next, The ADB  said robust domestic demand will continue to support the region's recovery. In an update to its Asian Development Outlook, the ADB said inflation is expected to continue to fall, approaching pre-pandemic levels as fuel and food prices decline. It forecast 3.6 percent inflation this year for developing economies in Asi...

ADB assures India of 2.2 bn US dollar support to fight against COVID-19 pandemic

April 10, 2020 8:32 PM

ADB assures India of 2.2 bn US dollar support to fight against COVID-19 pandemic

President of Asian Development Bank, Masatsugu Asakawa, today, assured Finance Minister Nirmala Sitharaman of 2.2 billion dollars or about 16,500 crore rupees, support to India in its fight against the COVID-19 pandemic. Asakawa said, ADB is committed to supporting India's emergency needs. We are now preparing 2.2 billion dollar in immediate assistance to the health sector and to help alleviate the economic impact of the pandemic on the poor; informal workers; micro, small, and medium-s...

India likely to grow at 7.2% in current fiscal year: ADB

April 4, 2019 8:12 AM

India likely to grow at 7.2% in current fiscal year: ADB

Asian Development Bank, ADB, says India's growth is set to pick up. In its report released today, ADB said India is expected to grow at 7.2 per cent in the current fiscal on strengthening consumption.     According to the Asian Development Outlook 2019, India's growth slowed from 7.2 per cent in fiscal 2017 to 7 per cent in 2018, with weaker agricultural output and consumption growth curtailed by higher global oil prices and lower government expenditure.  It is expected to rebo...

Centre, ADB ink loan agreement of 31 million dollar to develop Tourism and boost jobs in Tamil Nadu

December 12, 2018 7:11 AM

Centre, ADB ink loan agreement of 31 million dollar to develop Tourism and boost jobs in Tamil Nadu

The Centre and the Asian Development Bank on Tuesday signed a loan agreement of 31 million dollar in New Delhi to develop Tourism and boost Jobs in Tamil Nadu.  After signing the agreement, Additional Secretary, Department of Economic Affairs Sameer Kumar Khare said, the project is expected to improve the tourism infrastructure in Tamil Nadu and also help the State in preserving its natural and cultural heritage.  He said, the activities under the project will also boost economic opportunities f...

Centre and ADB sign 110 million dollar loan agreement for upgradation of 2,800 kilometers all-weather rural roads in Madhya Pradesh

October 6, 2018 9:27 PM

Centre and ADB sign 110 million dollar loan agreement for upgradation of 2,800 kilometers all-weather rural roads in Madhya Pradesh

The Center and Asian Development Bank, ADB, have signed a 110 million dollar loan agreement for the upgradation of 2,800 kilometers all-weather rural roads in Madhya Pradesh.  The loan is a part of 500 million dollar Second Rural Connectivity Investment Program, Tranche 2, approved by the ADB Board December last year, under the Prime Minister's Rural Roads Program.  ln view of increased rainfall and storm surges in Madhya Pradesh, the road designs take into account these climate risks w...