Page 9 - Asian Development Bank

ADB trims India's FY22 growth forecast to 10% on second wave impact

Downward revision stems from India's economic recovery getting impacted due to spike in Covid-19 cases in May, the agency said

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

The Asian Development Bank on Wednesday revised down India's economic growth forecast for the current fiscal to 10 per cent, from 11 per cent predicted earlier

Sri Lanka is facing a severe foreign exchange crisis, says finance minister

The government's revenues were also far short of target as pandemic curbs hurt economic activity, Rajapaksa said during a debate in parliament Tuesday

ADB approves $150 mn loan to improve urban housing in Tamil Nadu

The Asian Development Bank (ADB) has approved a 150 million dollar (about Rs 1,095 crore) loan to provide access to inclusive, resilient and sustainable housing for the urban poor in Tamil Nadu.

Covid-19 pushes 80 million people in Asia into extreme poverty: ADB

Covid-19 pandemic has pushed an estimated 75 million to 80 million more people in developing Asia into extreme poverty as of last year compared with what would have happened without Covid, ADB said

$250 mn ADB loan to support Bangladesh social resilience programme

The Asian Development Bank approved a $250 mn policy-based loan to the government of Bangladesh to help finance reforms aimed at improving the inclusiveness and responsiveness of the country

Promoting learning society key to equitable education amid Covid-19: ADB

Educational institutions must work with governments, the private sector, communities and civic authorities to ensure equitable access to high-quality learning resources during the pandemic, says ADB

Help nations to prevent health crisis from becoming eco crisis: FM to ADB

India asked multilateral lending institutions like Asian Development Bank to extend support to developing countries to prevent the Covid-induced health crisis from turning into economic catastrophe

Investment in health, social sector to help recovering from pandemic: ADB

Investment in health, education and social protection alongside deeper regional cooperation can help countries in Asia Pacific region in achieving equitable recovery from Covid, Asian Development Bank

Access to climate finance critical for development and recovery: ADB

The Asian Development Bank has called access to climate finance a key priority for Asia and the Pacific as governments design and implement a green and resilient recovery from the coronavirus

Asian Development Bank sells $2 billion 10-year global benchmark bond

Proceeds will be part of ADB's ordinary capital resources

Maharashtra plans to take Rs 15,000 cr loan from ABD to build roads: Chavan

Speaking to reporters here, Chavan said the backlog in road work had gone up and the funds required would be more than what the state budget has allocated

ADB to give Rs 2100-cr loan to Tripura for urban, tourism development

The Asian Development Bank is likely to provide a Rs 2,100 crore loan to the Tripura government for the development of urban areas and tourism

ADB launches $9 bn Covid vax initiative for its developing member economies

ADB said more than 14.3 million positive cases have been identified in Asia and the Pacific, causing more than 2,00,000 deaths

ADB cuts India's FY21 contraction forecast to 8% on back of faster recovery

The economy contracted by 23.9 per cent in June quarter of the current fiscal on account of the impact of the coronavirus pandemic

ADB approves $50 mn loan to improve resource planning in West Bengal

The loan builds on past ADB policy-based programs in 2012 and 2017, supporting the Government of West Bengal on sustainable public financial management reforms

ADB-backed Mortgage Corp may need new investors to grow

The revision factors in lower-than-anticipated growth in the company's scale of operations, which impacts its profitability.

FATF Grey List: Why Pakistan must introspect on its efforts to check terror

Pakistan is unlikely to exit the Financial Action Task Forces (FATF) grey list as it has been unable to comply with six of the 27 points in the global watchdogs action plan, according to reports

India to get $177 million loan from ADB for Maharashtra road improvements

The Asian Development Bank and the Indian government signed an agreement for $177 million loan to upgrade 450 kilometres of state highways and major district roads in the state of Maharashtra

ADB, India sign $270 mn loan to improve urban services in 64 cities of MP

ADB and the Government of India on Monday signed a $270 million loan to develop water supply and integrated stormwater and sewage management infrastructure for improved service delivery in MP