Focus Merit

Tag: Asian Development Bank

ADB starts $9 bn “APVAX” for Developing Countries

December 12, 2020
Asian Development Bank (ADB)
  • The Manila-based Asian Development Bank (ADB) has started an initiative called, the Asia Pacific Vaccine Access Facility (APVAX), for its developing member countries. The bank has allocated USD 9 billion for APVAX.

ADB predicts the GDP of India at -8% in 2020

December 11, 2020
GDP
  • The Asian Development Bank (ADB) has predicted India’s economy to contract 8 percent in 2020, as against (-)9.0 percent previously forecast.
  • In its latest Asian Development Outlook report published on 10 December 2020, ADB also expects the GDP of India to bounce back with growth of 8.0 percent in 2021.

ADB authorizes $190 million loan to upgrade power distribution in Bengaluru

December 6, 2020
Asian Development Bank (ADB)
  • The Manila-based Asian Development Bank (ADB) has sanctioned a loan of $190 million (approx Rs 1,400 crore) to modernize and upgrade the power distribution system in Bengaluru, Karnataka.
  • The financial-assistance by ADB will be used for the Bengaluru Smart Energy Efficient Power Distribution Project.

A book named ‘Future of Regional Cooperation in Asia and the Pacific’ by ADB

December 1, 2020
Future of Regional Cooperation in Asia and the Pacific
  • The Asian Development Bank (ADB) has published a new book named ‘Future of Regional Cooperation in Asia and the Pacific’.
  • The book presents insight on how stronger regional cooperation strategies, including in health, trade, finance, and disaster risk, can help governments in Asia and the Pacific expedite economic growth and strong recovery from the COVID-19 pandemic.

ADB approves 300 million US dollar loan to Rajasthan

October 13, 2020
ADB
  • India and the Asian Development Bank (ADB) has signed a 300 million US dollar loan to finance inclusive and sustainable water supply and sanitation infrastructure and services in 14 secondary towns of the state of Rajasthan.

ADB appointed Sameer Kumar Khare as Executive Director

September 15, 2020
Asian Development Bank (ADB)
  • The Asian Development Bank (ADB) appointed Sameer Kumar Khare as Executive Director. Khare is a 1989-batch Indian Administrative Service (IAS) officer of Assam cadre. He is currently serving as Additional Secretary in the Department of Economic Affairs under the Ministry of Finance.