Tag: Asian Development Bank

ADB starts $9 bn “APVAX” for Developing Countries

December 12, 2020

• 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

• 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 allows Rs 2.5 mn in technical assistance for biofuel development in India

December 9, 2020

• The Manila-based multilateral lending agency Asian Development Bank (ADB) has sanctioned a USD 2.5 million (about Rs 18 crore) technical assistance to support advanced biofuel development in India.

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

December 6, 2020

• 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.

ADB and India ink $50 million loan agreement for West Bengal

December 3, 2020

• The Asian Development Bank (ADB) and the Government of India have signed a $50 million policy-based loan agreement to enhance financial management procedures and operational efficiencies in West Bengal.

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

December 1, 2020

• 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 sanctioned 270 million dollars to develop urban services in Madhya Pradesh

October 14, 2020

• Asian Development Bank (ADB) assigned a loan of 270 million dollars to improve water supply and integrated storm water and sewage management infrastructure in 64 cities of Madhya Pradesh.

ADB approves 300 million US dollar loan to Rajasthan

October 13, 2020

• 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.

300 million dollar loan approved by ADB for Rajasthan

September 27, 2020

• 300 million dollar loan approved by ADB to finance inclusive water supply and sanitation infrastructure and services in secondary towns of Rajasthan.

ADB appointed Sameer Kumar Khare as Executive Director

September 15, 2020

• 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.