ADB to increase lending during 2016-18 as India to be fastest growing economy

Last Modified: Mon Mar 14 2016 13:32:44 GMT+0530 (India Standard Time)
  • $12 billion
    in lending, pledged by Asian Development Bank president Takehiko Nakao on Friday [11-Mar] showered all praise for India saying it is likely to remain the fastest growing economy in 2016.
  • 3
    calendar years [2016 - 2018] during which loans will be available. ADB will support flagship government projects such as solar parks and solar rooftops, energy efficiency using LED lighting, smart cities, metro lines, railway modernization, irrigation system expansion, economic corridors, and major ports.
  • 7%
    or more in GDP expansion in fiscal year FY17, expected by the ADB. Nakao commended the success of the country’s reform measures, including the liberalization of foreign direct investment rules, cuts in subsidies, and the “Make in India” campaign.
  • $3 billion
    ADB’s loans to India in 2015, including non-sovereign lending of $841 million.
  • $33.1 billion
    total value of 197 sovereign loans that the ADB has approved since it started lending operations in 1986. India is ADB’s largest borrower.