Page 5 - Asian Development Bank

World Food Programme to give assistance to 1.3 mn people across Afghanistan

The ADB added that a $100 million grant will go to the WFP

Basel-III rules to give Nabard room to double balance sheet from April 2024

Shaji K V, chairman of Nabard, said at present the institution is adequately capitalised and under the Basel framework the capital adequacy ratio will be upward of 20 per cent

ADB unlocks $100 bn funding capacity with capital management reforms

The reforms, carried out through an update of ADB's Capital Adequacy Framework (CAF), would expand the bank's annual new commitments capacity to more than $36 billion

ADB unveils capital moves to boost lending by $100 billion over a decade

ADB's move to stretch its balance sheet follows similar measures announced by the World Bank earlier this year that will yield a $50 billion increase in lending over a decade

G20 & beyond: Multilateral banks take centre stage

As Multilateral Development Banks lead the charge to achieve sustainable development goals, here are four clear paths they should follow

S&P retains India's FY24 GDP forecast at 6% on slowing world economy

ADB had revised downwards India's growth forecast for FY24 by 10 basis points to 6.3 per cent due to erratic monsoon patterns, thus affecting agricultural output

Nearly 2 million people in Afghanistan face acute food insecurity: UN

The organisation said that 41 million people in Afghanistan face severe food insecurity at an alarming level

Asian Development Bank appoints Bhargav Dasgupta as VP of market solutions

This comes after Dasgupta stepped down as managing director and chief executive officer of ICICI Lombard General Insurance Company on Thursday

ADB lowers FY24 GDP forecast to 6.3%, India Ratings raises it to 6.2%

ADB has, however, retained FY25 growth forecast at 6.7 per cent, citing rising private investment and industrial output are expected to drive growth

FM Sitharaman discusses capital adequacy framework with World Bank, ADB

Sitharaman and Banga stated that they look forward to Volume 2 of the report that will be submitted during the 4th FMCBG meeting in Morocco in October

Pak requests $300 mn loan from Asian Development Bank for water project

This project aims to improve energy, water and food security in the country

ADB approves $40.5 mn loan for Meghalaya early childhood development scheme

Asian Development Bank (ADB) on Wednesday said it has approved a USD 40.5-million loan for integrated early childhood development (ECD) and maternal mental health programme in Meghalaya. The state government is contributing USD 15.27 million to the project, the multilateral funding agency said in a statement. The project will strengthen home-based childcare (children 01.5 years) and centre-based childcare (1.56 years) through daycare (Anganwadi) centres in Meghalaya, it said. The project aims to improve access to nurturing care, including a component of maternal mental healthcare and group-based parenting programmes to enable the inclusion of fathers in caregiving, it said. ADB's assistance will also improve nutrient adequacy by adding eggs to the diet of pregnant and lactating women and children aged 0.56 years, it said. As one of several climate-resilient features, the project will also help establish nutrition gardens at Anganwadi centres (AWC) for improved diet diversity and .

ADB, India Sign $200 million loan to expand urban services in Rajasthan

The Asian Development Bank will provide additional financing to support the Rajasthan Secondary Towns Development Sector Project to improve water supply, sanitation systems, and urban resilience

ADB, India sign $295 mn loan pact to upgrade state highways in Bihar

Asian Development Bank (ADB) and the central government on Thursday signed an agreement for a USD 295 million loan to upgrade around 265-kilometre state highways with climate and disaster-resilient design and road safety elements in Bihar. The project supports the Bihar government programme to upgrade all state highways to standard two-lane widths and improve road safety, ADB said in a statement. The improved roads will enhance connectivity in some of Bihar's poorest rural districts and promote access to health and education facilities and markets to improve people's lives, it added. The project will also encourage women's participation by providing employment to female workers in construction works, it said, adding training in livelihood as well as awareness on road safety, health, hygiene, abuse and harassment will be offered to women from communities in the project areas. Since 2008, ADB has provided five loans totalling USD 1.63 billion to Bihar for the upgradation of about ...

Sensex consolidates at 67,000-mark; Nifty less than 1% away from 20K

With multiple forces at work, markets continue to touch new highs

Multilateral development banks pledge upto $27 bn for India's green growth

The government commits to green hydrogen development, encourages collaboration with private sector as global demand for hydrogen is expected to reach 200 million tons by 2030

ADB approves $50 million loan to help Nepal in making policy reforms

The Asian Development Bank (ADB) on Thursday said it has approved a USD 50 million loan to the Nepal government to support the implementation of policy reforms and help improve the Himalayan nation's domestic and international trade with its key economic partners like India and Bangladesh. The development of the trade and industry sector will boost competitiveness and help steer the country toward sustainable economic growth, said ADB South Asia Department's Director of Regional Cooperation and Operations Coordination, Thiam Hee Ng. Furthermore, improved trade facilitation can boost exports and help address Nepal's balance of payment, he said. In fiscal year 2022, trade and industry contributed 14.1 per cent to Nepal's gross domestic product (GDP). The Nepal government is pushing to increase the contribution of trade to the country's GDP by improving the trade and export promotion environment and strengthening the supply chain of primary products, according to an ADB press ...

IMGC to focus on strengthening partnerships with finance institutions: CEO

India Mortgage Guarantee Corporation (IMGC) would focus on strengthening partnerships with banks and financial institutions, a top official said on Tuesday. The company is backed by marquee investors -- Enact MI, Sagen (Brookfield Group), National Housing Bank, IFC (World Bank Group), And Asian Development Bank. The mortgage guarantee company, since its inception in 2012 has breached Rs 20,000 crore in home loan guarantees to over one lakh customers across 400 locations. In FY2022-23, IMGC doubled its market share in South India accounting 30 per cent of all originations in the region. The company guaranteed Rs 2,300 crore in home loans for over 18,000 families. "IMGC's expansion plans revolve around enhancing its participation in the housing ecosystem to enable first-time homeownership and provide ongoing support to existing homeowners," IMGC CEO Mahesh Misra said. "Strengthening partnerships with banks and financial institutions is a key focus for IMGC, ensuring that more India

FinMin, ADB organise workshop on Expected Loss-based Credit Rating System

The Ministry of Finance and Asian Development Bank (ADB) on Monday organised a workshop on Expected Loss-based Credit Rating Mechanism. The workshop was addressed by Economic Affairs Secretary Ajay Seth, the finance ministry said in a tweet. Around 120 representatives from banks, regulators, project developers, industrial associations, financial institutions and institutional investors participated in this workshop, it added. Experts from credit rating agencies, the Reserve Bank of India, banks, industry associations and financial institutions deliberated on the array of topics related to EL-based credit rating mechanism and their potential impact on infrastructure projects.

Cambodia about to graduate from least developed country status: ADB

It added that the Southeast Asian nation should consider forging new trade agreements with its major partners while improving the implementation and utilization of existing ones