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FM Sitharaman asks Asian Development Bank to step up lending to India

Sitharaman said India has the absorptive capacity to receive about $4 billion a year from sovereign operations, and about $1.5 billion annually from the private sector financing window

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Sitharaman said need of the hour is to also increase private sector operations with a view to leverage the limited ADB funds

Indivjal Dhasmana New Delhi

4 min read Last Updated : Sep 19 2020 | 1:09 AM IST

Finance minister Nirmala Sitharaman on Friday asked Manila-based Asian Development Bank (ADB) to raise its lending to India as the country can absorb $5.5 billion in loans a year.

“Keeping in view the need for a ‘global development’ approach and the long-term perspective of addressing poverty, ADB should expand its quantum and size of lending,” said Sitharaman, at the annual meeting of the board of governors of the bank, through the digital mode.

Sitharaman said India has the absorptive capacity to receive about $4 billion a year from sovereign operations, and about $1.5 billion annually from the private sector financing

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