Page 4 - Adb

ADB clears $350 million loan to improve road connectivity in Maharashtra

Multilateral funding agency Asian Development Bank (ADB) on Friday approved a USD 350 million (about Rs 2,900 crore) loan to improve the road connectivity of key economic areas in Maharashtra. The Connecting Economic Clusters for Inclusive Growth in Maharashtra project will further develop the state's core road network in the Ahmednagar, Hingoli, Jalna, Kohalpur, Nagpur, Nanded, Nashik, Pune, Sangli and Satara districts, ADB said in a statement. It will help connect underdeveloped rural communities with off-farm opportunities and markets, improve access to health and social services and improve agricultural value chains by reducing transport costs for small and medium-sized enterprises, it said. It will build on the Maharashtra State Road Improvement Project approved by ADB in April 2020 to upgrade state highways and major district roads, it added. It further said the project will upgrade at least 319 kilometres (km) of state highways and 149 km of district roads, incorporating ...

India wants ADB to increase equity base to strengthen lending operations

India wants the multilateral funding agency ADB to increase its equity base through another round of general capital increase with a view to strengthening its lending operations. Speaking at the 55th Annual Meeting of ADB, India's Economic Affairs Secretary Ajay Seth said rising commodity prices are endangering food security. "We are meeting in the backdrop of tightening of monetary policies, slowdown of the global economy, supply-chain disruptions, unprecedented inflation and rise in commodities prices endangering food security and livelihoods and the developmental gains made so far," Seth said, the Alternate Governor for the ADB's annual meeting. Fiscal space has now considerably reduced and the surge in public debt has limited the space for additional borrowing and worsened debt vulnerabilities, he said. Increase in private sector operations is the need of the hour to leverage the limited capital of ADB, Seth said developing more affordable and innovative financing solutions wil

ADB explains why RBI may slow down on rate cuts till next year

With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier. Inflation will remain elevated this year and the next, ADB said in an update to its flagship Asian Development Outlook (ADO) 2022 report. "This Update forecasts the inflation rate averaging 6.7 per cent in FY2022 (fiscal ending in March 2023) before moderating to 5.8 per cent in FY2023 (ending in March 2024), just below the central bank target range of 2 - 6 per cent," it said. Both forecasts are higher than ADO 2022's projections. Even though supply pressures

A remarkable teacher: Remembering D-School's Elizabeth Krishna

Elizabeth Krishna worked at the Delhi School of Economics for about a decade and a half from the mid-1960s to late 1970s as a tutor, or teaching assistant

Bangladesh seeks $2 billion from World Bank, ADB to boost forex reserves

The government wrote letters to the two lenders seeking $1 billion each from them to help the economy cope with the ripple effects of the war in Ukraine and energy price shocks

Lankan PM hold talks with World Bank, ADB as India delivers diesel shipment

Sri Lanka's Prime Minister Ranil Wickremesinghe held discussions with representatives of the World Bank and the Asian Development Bank on the current economic crisis in the country,

ADB and HSBC India establish $ 100 mn guarantee plan for microcredit

ADB and HSBC programme will help women running small businesses and microfinance institutions lending after the pandemic.

Trade integration deepens in Asia-Pacific region amid pandemic: ADB

Trade among economies in the Asia-Pacific rose to the highest level in three decades, bolstering the region's economic resilience amid the Covid-19 pandemic.

Pradip Shah, ex-consultant to World Bank, appointed Pfizer India chairman

Announcing the appointment, S Sridhar, the managing director of the company, said with Pradip Shah's elevation as the chairman, the firm will work closely with him on matters of strategic importance

ADB to provide $350 million loan to improve urban services in India

The Asian Development Bank will provide $350 million loan to improve access to urban services in India by accelerating policy actions and reforms to enhance service delivery

Asian Development Bank to provide $112 million to set up skill university

Courses offered would include agricultural and food technology, manufacturing and construction, mobility, management and finance, tourism, hospitality and healthcare

ADB trims growth forecasts for developing Asia to 7%, cites Omicron risks

ADB now sees 2021 GDP growth of 7.0% for developing Asia, down from 7.1%, and 2022 growth of 5.3%, down from 5.4% in September

ADB scales down India growth estimate further to 9.7% in FY22

ADB has scaled down India's growth estimate for the fiscal year ending March 2022 due to supply chain issue of industries

ADB approves Rs 2,645-crore loan to improve urban services in India

The loan supports the policies established by the Ministry of Housing and Urban Affairs to accelerate universal coverage of piped water supply and improved sanitation

Govt inks 2 loan agreements of Rs 2,074 cr with Asian Development Bank

The loan agreements are for an affordable housing project in Tamil Nadu and a water sanitation programme in Uttarakhand

ADB approves Rs 3,752 cr funding to govt for enhancing school education

The loan supports the Integrated Scheme for School Education (Samagra Shiksha) and the new Exemplar School Initiative of the Ministry of Education (MOE)

ADB to provide $100 mn loan for agribusiness development in Maharashtra

The Asian Development Bank will provide a $100 million (around Rs 749 crore) loan to promote agribusiness network to boost farm incomes and reduce food losses in Maharashtra

Himachal CM Thakur seeks $100 mn ADB project for tourism infrastructure

Himachal Pradesh Chief Minister Jai Ram Thakur on Thursday sought revival of the $100 million ADB project (Phase I) aimed at building world-class tourism infrastructure in the state.

Debt-ridden Pakistan gets $500 mn loan from ADB to buy coronavirus vaccines

The Asian Development Bank on Friday approved a USD 500 million loan for debt-ridden Pakistan to help it buy coronavirus vaccines.

ADB lowers India's economic growth forecast for this fiscal to 10%

Asian Development Bank has downgraded India's economic growth forecast for current financial year to 10 per cent on Tuesday, from 11 per cent projected in April, on account of coronavirus pandemic