News

PM GatiShakti an effective mechanism for fast-tracking infrastructure projects: Sumita Dawra Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra has said that the PM GatiShakti initiative is an effective mechanism for fast-tracking infrastructure projects and bringing socio-economic area-based development. She said PM GatiShakti NMP, a GIS data-based digital platform with more than 1,400 data layers and over 50 tools, provides a visual depiction of trunk and utility infrastructure, land use, existing structures (like bridg...
PM GatiShakti an effective mechanism for fast-tracking infrastructure projects: Sumita Dawra
PM GatiShakti an effective mechanism for fast-tracking infrastructure projects: Sumita Dawra
Source: Accord Fintech
8/09/2023 12:58:16 PM
NITI Aayog Vice Chairman emphasizes role of E-Mobility in accelerating India`s economic growth Highlighting the transformative potential of the Indian EV industry and its positive impact on both the economy and the environment, NITI Aayog Vice Chairman Suman Bery has emphasized the role of electric mobility in accelerating India’s economic growth along low-carbon pathways and facilitating the nation's net-zero vision for 2070. In conference on E-Mobility organized by NITI Aayog and supported by WRI India and Asian Development Bank, Amitabh Kant, India's G20 Sherpa, als...
NITI Aayog Vice Chairman emphasizes role of E-Mobility in accelerating India`s economic growth
NITI Aayog Vice Chairman emphasizes role of E-Mobility in accelerating India`s economic growth
Source: Accord Fintech
20/07/2023 12:51:33 PM
`Public-private partnership can expedite process of achieving green hydrogen economy` Petroleum Minister Hardeep Singh Puri on Friday said that the Centre has put up an eco-system for the development of green hydrogen and government sectors with support from private companies can expedite the process of achieving a green hydrogen economy. In his valedictory address at an international conference, Puri said that green hydrogen is an idea whose time has come. He informed the gathering on the last day of the three-day long conference on green hydrogen that public sector ent...
`Public-private partnership can expedite process of achieving green hydrogen economy`
`Public-private partnership can expedite process of achieving green hydrogen economy`
Source: IANS
8/07/2023 9:32:47 AM
Asian Development Bank approves $50 mn loan for Nepal   The Manila-based Asian Development Bank (ADB) on Thursday said it has approved a $50 million loan to help Nepal improve its domestic and international trade. In the fiscal year 2022, the ADB said trade and industry contributed 14.1 per cent to Nepal's gross domestic product (GDP), reports Xinhua news agency. The Manila-based lender said the Nepal government is pushing to increase the contribution of trade to GDP by improving the trade and export promotion environment and s...
Asian Development Bank approves $50 mn loan for Nepal
Asian Development Bank approves $50 mn loan for Nepal
Source: IANS
29/06/2023 4:40:47 PM
Cambodia about to graduate from least developed country status: ADB Two decades after its inclusion on the list of the least developed countries, Cambodia has met the graduation criteria for the first time in 2021, with plans to graduate as early as 2027, said an Asian Development Bank (ADB) report on Friday. "This is a major achievement, as graduation from the least developed country status means that a country has achieved significant economic and social development goals," the report said. However, the least developed country graduation als...
Cambodia about to graduate from least developed country status: ADB
Cambodia about to graduate from least developed country status: ADB
Source: IANS
2/06/2023 5:44:01 PM
42nd ASEAN Summit opens in Indonesia, highlights economic integration The 42nd Association of Southeast Asian Nations (ASEAN) Summit formally kicked off in the Indonesian town of Labuan Bajo on Wednesday, with the country's President Joko Widodo urging unity and economic integration for the regional bloc to play a central role in regional peace and development. "With unity, ASEAN will be able to be a central player in bringing peace and development," he noted in his opening address. "In the future, ASEAN must strengthen its economic int...
42nd ASEAN Summit opens in Indonesia, highlights economic integration
42nd ASEAN Summit opens in Indonesia, highlights economic integration
Source: IANS
10/05/2023 10:31:57 AM
Sri Lanka to seek $200mn from World Bank for social security programs Sri Lanka's cabinet of ministers approved a proposal to start discussions with the World Bank to obtain $200 million for social security programs, a spokesperson said on Tuesday. Cabinet spokesperson Bandula Gunawardena told journalists that President Ranil Wickremesinghe made the proposal in his capacity as the Finance Minister, reports Xinhua news agency. Gunawardena said that Sri Lanka has agreed to implement a robust social security network to protect the most vulnerable groups ...
Sri Lanka to seek $200mn from World Bank for social security programs
Sri Lanka to seek $200mn from World Bank for social security programs
Source: IANS
9/05/2023 4:24:15 PM
Nirmala Sitharaman underlines need for robust ADB Finance minister Nirmala Sitharaman on Thursday stressed on the need for a robust Asian Development Bank (ADB) that adopts a transformational rather than incremental approach for sustainable and resilient regional development. She made these observations while participating in the business session of the ADB's annual meeting in Incheon, South Korea. The Finance Minister further underlined the need for ADB to focus on global public goods in their regional dimension while continuing ...
Nirmala Sitharaman underlines need for robust ADB
Nirmala Sitharaman underlines need for robust ADB
Source: IANS
4/05/2023 12:38:54 PM
South Korea, Indonesia to seek stronger economic ties, push for green growth South Korea and Indonesia agreed on Wednesday to expand economic ties amid the realignment of the global supply chain and seek growth based on green technologies, the finance ministry said. The agreement came as Finance Minister Choo Kyung-ho met his Indonesian counterpart, Sri Mulyani Indrawati, onthe margins of the 56th Annual Meeting of the Board of Governors of the Asian Development Bank held in Incheon, 27 kilometers west of Seoul, the Ministry of Economy and Finance said. During t...
South Korea, Indonesia to seek stronger economic ties, push for green growth
South Korea, Indonesia to seek stronger economic ties, push for green growth
Source: IANS
4/05/2023 9:19:21 AM
Nirmala Sitharaman meets ADB chief, says India remains key partner Union Finance Minister Nirmala Sitharaman, who is currently on a four-day visit to South Korea, had a bilateral meeting with Asian Development Bank (ADB) president Masatsugu Asakawa in Incheon on Tuesday, during which she emphasised that India continues to be the most significant country for the lending agency's sovereign and non-sovereign operations. The Union Minister, who arrived in Incheon earlier in the day to attend the annual general meeting of ADB, met Asakawa on the sidelines ...
Nirmala Sitharaman meets ADB chief, says India remains key partner
Nirmala Sitharaman meets ADB chief, says India remains key partner
Source: IANS
2/05/2023 2:14:12 PM
Finance Minister Nirmala Sitharaman to attend AGM of ADB in South Korea Finance Minister Nirmala Sitharaman will lead the Indian delegation to attend the 56th annual general meeting (AGM) of the Board of Governors of Asian Development Bank (ADB) in South Korea's Incheon from May 2 to May 5. The Indian delegation, consisting of officials from the department of Economic Affairs, is scheduled to depart on Monday itself. The meetings will be attended by official delegations of ADB members, observers, non-governmental and civil society organisations, media, ...
Finance Minister Nirmala Sitharaman to attend AGM of ADB in South Korea
Finance Minister Nirmala Sitharaman to attend AGM of ADB in South Korea
Source: IANS
1/05/2023 7:49:05 PM
India needs to be vigilant against potential risks of lower agriculture output, elevated prices: Finance Ministry Expressing cautiousness, the Finance Ministry in its March edition of Monthly Economic Review has said that India needs to be vigilant against potential risks of lower agriculture output, elevated prices and geopolitical developments. Although the 6.5 per cent growth projection for India for the current fiscal is in line with the estimates of the World Bank and the Asian Development Bank (ADB), it said there are factors which could affect the favourable combination of growth and inflation out...
India needs to be vigilant against potential risks of lower agriculture output, elevated prices: Finance Ministry
India needs to be vigilant against potential risks of lower agriculture output, elevated prices: Finance Ministry
Source: Accord Fintech
26/04/2023 9:56:05 AM
ADB operations reach $20.5 bn in 2022: Report The Asian Development Bank (ADB) committed $20.5 billion from its resources last year to help Asia and the Pacific continue its recovery from the Covid-19 pandemic despite fresh economic headwinds and crises, the Manila-based lender said in a report on Monday. The ADB's Annual Report 2022 said the $20.5 billion comprised loans and guarantees, grants, equity investments and technical assistance provided to governments and the private sector, reports Xinhua news agency. The lender mob...
ADB operations reach $20.5 bn in 2022: Report
ADB operations reach $20.5 bn in 2022: Report
Source: IANS
24/04/2023 5:49:20 PM
Indian economy to grow at 6.5% in FY24, continue to be fastest-growing major economy: Sanjeev Sanyal Expressing optimism over economic growth, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal has said Indian economy will grow at around 6.5 per cent in the current fiscal (FY24) and will continue to be the fastest-growing major economy in the world, notwithstanding a modest cut in growth projections by multilateral lending agencies. He further said that given the uncertainties in the global economy, India's performance is clearly far ahead of any other compara...
Indian economy to grow at 6.5% in FY24, continue to be fastest-growing major economy: Sanjeev Sanyal
Indian economy to grow at 6.5% in FY24, continue to be fastest-growing major economy: Sanjeev Sanyal
Source: Accord Fintech
17/04/2023 9:35:07 AM
Tata Power surges after its JV inks pact with Asian Development Bank Tata Power Company is currently trading at Rs. 197.00, up by 1.85 points or 0.95% from its previous closing of Rs. 195.15 on the BSE. The scrip opened at Rs. 195.20 and has touched a high and low of Rs. 197.70 and Rs. 195.10 respectively. So far 302737 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 298.00 on 07-Apr-2022 and a 52 week low of Rs. 182.45 on 28-Mar-2023. Last one week high and low of the scrip stoo...
Tata Power surges after its JV inks pact with Asian Development Bank
Tata Power surges after its JV inks pact with Asian Development Bank
Source: Accord Fintech
10/04/2023 2:00:17 PM
Philippine inflation rate slowed to 7.6% in March Year-on-year inflation in the Philippines slowed further to 7.6 per cent in March from 8.6 per cent in February due to the reduction of food and transportation costs, authorities said on Wednesday. Philippine Statistics Authority (PSA) data showed the inflation rate in March 2022 was lower at 4 per cent, reports Xinhua news agency. The average inflation rate for the first quarter of this year stood at 8.3 per cent. In a news conference, PSA head Dennis Mapa said the heavily-weighted ...
Philippine inflation rate slowed to 7.6% in March
Philippine inflation rate slowed to 7.6% in March
Source: IANS
5/04/2023 2:32:15 PM
India`s economic growth expected to moderate to 6.4% in current financial year: Asian Development Bank The Asian Development Bank (ADB) in its latest report ‘Asian Development Outlook (ADO) April 2023’ has said India's economic growth is expected to moderate to 6.4 per cent in the current financial year (FY24) due to  tight monetary conditions and elevated oil prices as compared to 6.8 per cent expansion for the financial year ended March 2023. It mentioned the growth moderation for India in FY24 is premised on an ongoing global economic slowdown, tight monetary conditions...
India`s economic growth expected to moderate to 6.4% in current financial year: Asian Development Bank
India`s economic growth expected to moderate to 6.4% in current financial year: Asian Development Bank
Source: Accord Fintech
5/04/2023 10:16:26 AM
Maharashtra plans mega boost to infra projects for all-round progress Maharashtra has announced a boost to various big and small infrastructure projects including a web of Metro Rail network for the Mumbai Metropolitan Region (MMR), Deputy Chief Minister and Finance Minister Devendra Fadnavis said, tabling the state Budget 2023-2024. Putting the state onto the national $5 trillion economy ambition with a contribution of $1 trillion, and boosting the state share from 14.2 per cent to 20 per cent in the national GDP, Fadnavis announced major infrastructure dev...
Maharashtra plans mega boost to infra projects for all-round progress
Maharashtra plans mega boost to infra projects for all-round progress
Source: IANS
10/03/2023 9:18:56 AM
ADB teams call on Himachal Chief Minister; discuss horticulture project Asian Development Bank's Project Readiness Financing Mission team led by Sunae Kim, team leader for the Himachal Pradesh Sub-tropical Horticulture, Irrigation and Value Addition (HP SHIVA) project, met Chief Minister Sukhvinder Singh Sukhu here on Monday and apprised him about objectives and scope of the mission. The Chief Minister said 257 clusters have been selected in the first phase of Rs 1,292 crore HP Shiva project. Target has been set to benefit about 15,000 farmers by setting u...
ADB teams call on Himachal Chief Minister; discuss horticulture project
ADB teams call on Himachal Chief Minister; discuss horticulture project
Source: IANS
7/03/2023 9:49:47 AM
ADB teams call on Himachal Chief Minister; discuss horticulture project Asian Development Bank's Project Readiness Financing Mission team led by Sunae Kim, team leader for the Himachal Pradesh Sub-tropical Horticulture, Irrigation and Value Addition (HP SHIVA) project, met Chief Minister Sukhvinder Singh Sukhu here on Monday and apprised him about objectives and scope of the mission. The Chief Minister said 257 clusters have been selected in the first phase of Rs 1,292 crore HP Shiva project. Target has been set to benefit about 15,000 farmers by setting u...
ADB teams call on Himachal Chief Minister; discuss horticulture project
ADB teams call on Himachal Chief Minister; discuss horticulture project
Source: IANS
6/03/2023 6:01:53 PM
Southeast Asia`s largest wind power plant to be built in Laos The Asian Development Bank (ADB) and Monsoon Wind Power Company Limited have signed a $692.55-million loan agreement to build a wind power plant in Laos. Comprising 133 wind turbines with a capacity of 600 MW, the Monsoon Wind Power Project will be the largest wind power plant in Southeast Asia and the first in Laos, according to a report released by the ADB on Friday. The wind power plant will be constructed in southern Laos' Sekong and Attapeu provinces. Electricity generated by t...
Southeast Asia`s largest wind power plant to be built in Laos
Southeast Asia`s largest wind power plant to be built in Laos
Source: IANS
4/03/2023 10:34:49 AM
First G20 energy transition working group meeting to be held in Bengaluru next month  The first G20 Energy Transition Working Group (ETWG) meeting under India's presidency will be held in Bengaluru from February 5-7. The meeting will focus on six priority areas -- energy transition through addressing technology gaps; low-cost financing for energy transition; energy security and diversified supply chains; energy efficiency, industrial low carbon transitions and responsible consumption; fuels for future (3F); and universal access to clean energy and inclusive energy...
First G20 energy transition working group meeting to be held in Bengaluru next month
First G20 energy transition working group meeting to be held in Bengaluru next month
Source: IANS
30/01/2023 2:34:01 PM
India`s Shriram Finance secures $100 million loan from Asian Development Bank Indian shadow lender Shriram Finance Ltd said on Friday it had secured a five-year loan worth $100 million from the Asian Development Bank to provide credit to its customers towards purchase of new and used vehicles across India. Shriram Finance, which currently has about 1.71 trillion rupees of assets under management, said it had also raised $250 million from US Development Finance Corporation and $475 million through a 144A Bond from the international market earlier this year. The le...
India`s Shriram Finance secures $100 million loan from Asian Development Bank
India`s Shriram Finance secures $100 million loan from Asian Development Bank
Source: Reuters
30/12/2022 3:26:44 PM
India signs $125 million loan deal with ADB to improve urban services in Tamil Nadu The Government of India and Asian Development Bank (ADB) signed a $125 million loan to develop climate-resilient sewage collection and treatment, and drainage and water supply systems in three cities in the state of Tamil Nadu. The signatories to the tranche 3 loan for Tamil Nadu Urban Flagship Investment Program were Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Hoe Yun Jeong, Officer-in-Charge ...
India signs $125 million loan deal with ADB to improve urban services in Tamil Nadu
India signs $125 million loan deal with ADB to improve urban services in Tamil Nadu
Source: Dion Global Solutions Ltd
29/12/2022 10:49:12 AM
Bangladesh , Asian Development Bank ink loan deals worth $627mn for development, climate projects The Asian Development Bank (ADB) and the Bangladesh government have signed loan agreements worth $627 million for the implementation of development and climate resilience projects. Sharifa Khan, secretary of the Economic Relations Division, and Jiangbo Ning, deputy country director and officer-in-charge of Bangladesh resident mission of the ADB, signed the agreements on behalf of their respective sides, Xinhua news agency quoted a statement from the Manila-based lender as saying. The AD...
Bangladesh , Asian Development Bank ink loan deals worth $627mn for development, climate projects
Bangladesh , Asian Development Bank ink loan deals worth $627mn for development, climate projects
Source: IANS
27/12/2022 11:01:40 AM
Larsen & Toubro jumps after its arm secures orders from Tumakuru Industrial Township, TWAD Board Larsen & Toubro is currently trading at Rs. 2095.85, up by 33.80 points or 1.64% from its previous closing of Rs. 2062.05 on the BSE. The scrip opened at Rs. 2052.10 and has touched a high and low of Rs. 2108.00 and Rs. 2052.10 respectively. So far 28403 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2210.50 on 16-Dec-2022 and a 52 week low of Rs. 1456.80 on 20-Jun-2022. Last one week high and low of the sc...
Larsen & Toubro jumps after its arm secures orders from Tumakuru Industrial Township, TWAD Board
Larsen & Toubro jumps after its arm secures orders from Tumakuru Industrial Township, TWAD Board
Source: Accord Fintech
26/12/2022 3:04:56 PM
Va Tech Wabag allots NCDs to ADB upto Rs 200 cr Va Tech Wabag announced that its board approved the proposal for fund raising by way of issuance of non-convertible debentures upto Rs 200 crore to Asian Development Bank (ADB) on a private placement basis. The issue could be done in one or more tranches/series, subject to necessary approvals, permissions, consents and sanctions as may be required. The tenure of the debentures is 5 years and 3 months. The company said that the board also placed on record its appreciations in regards to the ma...
Va Tech Wabag allots NCDs to ADB upto Rs 200 cr
Va Tech Wabag allots NCDs to ADB upto Rs 200 cr
Source: Dion Global Services Ltd.
25/11/2022 4:10:02 PM
ADB approves $70mn loan to Cambodia for education reforms The Manila-based Asian Development Bank (ADB) on Monday announced that it has approved a $70 million loan to Cambodia to support government efforts to deepen reforms in upper secondary science, technology, engineering, and mathematics (STEM) education across the country. In a statement, the lender said that Science and Technology Project in Upper Secondary Education will help Cambodia develop high-quality human resources, especially in the STEM field, as the country aspires to transform it...
ADB approves $70mn loan to Cambodia for education reforms
ADB approves $70mn loan to Cambodia for education reforms
Source: IANS
7/11/2022 2:30:37 PM
Sri Lanka will return to era of queues if IMF demands tax hike fails: Prez Stressing the urgent need to impose high taxes despite mounting public protests, Sri Lankan President Ranil Wickremesinghe warned that the country would have to revert to an 'era of queues' if revenue is not raised through a direct tax increase. Making a special statement televised on Wednesday night, President Wickremesinghe said that it was not possible to strengthen the economy without increasing the revenue of the country, which will compel him to reluctantly make tough decisio...
Sri Lanka will return to era of queues if IMF demands tax hike fails: Prez
Sri Lanka will return to era of queues if IMF demands tax hike fails: Prez
Source: IANS
20/10/2022 11:22:44 AM
Global investors view Shehbaz's appeal as sign of imminent default on foreign debt  The price of Pakistan's US dollar-denominated global bonds, Eurobond and Sukuk, slumped while their yields skyrocketed at world markets after Prime Minister Shehbaz Sharif appealed for debt relief from rich nations to cope with the flood-hit economy. The global bond investors interpreted the prime minister's appeal as an indicator that the country was going to default on foreign debt repayments. Islamabad is scheduled to repay $1 billion against a maturing Sukuk on December 5...
Global investors view Shehbaz's appeal as sign of imminent default on foreign debt
Global investors view Shehbaz's appeal as sign of imminent default on foreign debt
Source: IANS
25/09/2022 9:17:00 AM
Government inks pact with ADB for drinking water supply in Himachal Pradesh The Central government on Monday signed a $96.3 million loan agreement with the Asian Development Bank (ADB) for providing safe drinking water and improving water supply in Himachal Pradesh. According to a statement issued by the Finance Ministry, the agreement was signed by Additional Secretary in the Economic Affairs Department of the ministry, Rajat Kumar Mishra and Takeo Konishi, Country Director for the ADB in India. Mishra was quoted as saying by the statement that the project is ...
Government inks pact with ADB for drinking water supply in Himachal Pradesh
Government inks pact with ADB for drinking water supply in Himachal Pradesh
Source: IANS
23/08/2022 9:51:55 AM
ADB projects India’s economy to grow by 7.5% in FY23, 8% in FY24 Asian Development Bank (ADB) in its flagship Asian Development Outlook (ADO) 2022 has projected a 7% collective growth for South Asian economies in 2022 before picking up to 7.4% in 2023, with the sub-region's largest economy India growing by 7.5% in the current fiscal year (FY23) and 8% in next fiscal year (FY24). It said the sub-region's growth dynamics are largely driven by India and Pakistan. Pakistan's growth is forecast to moderate to 4% in 2022 on weaker domestic demand ...
ADB projects India’s economy to grow by 7.5% in FY23, 8% in FY24
ADB projects India’s economy to grow by 7.5% in FY23, 8% in FY24
Source: Accord Fintech
6/04/2022 10:51:37 AM
ADB to give Rs 8,000 Cr to Tripura for developmental projects The Asian Development Bank (ADB), which identified Tripura for a strategic partnership, will provide around Rs 8,000 crore over the next 4-5 years to implement various developmental projects. A Tripura finance department official said that in addition to the funding, the ADB will provide technical assistance and support for diagnostic studies. The proposed funding of Rs 8,000 crore is excluding the the current projects being implemented in Tripura. Tripura Chief Secretary Kumar Alok in ...
ADB to give Rs 8,000 Cr to Tripura for developmental projects
ADB to give Rs 8,000 Cr to Tripura for developmental projects
Source: IANS
26/02/2022 9:54:45 AM
ADB to secure cross-border securities transaction system via blockchain The Asian Development Bank (ADB) said on Wednesday that it seeks to develop ways to directly connect central banks and securities depositories in the ASEAN+3 region within a blockchain network. The ASEAN+3 region consists of the 10-member Association of Southeast Asian Nations plus Japan, China and South Korea, Xinhua news agency reported. According to the Manila-based bank, directly connecting the institutions within a blockchain network could reduce transaction costs and settlement ri...
ADB to secure cross-border securities transaction system via blockchain
ADB to secure cross-border securities transaction system via blockchain
Source: IANS
26/01/2022 4:15:07 PM
Asian Development Bank to provide $350 million loan to improve urban services in India In order to improve urban services in India, the Asian Development Bank (ADB) will provide $350 million loan. ADB will provide loan to improve access to urban services in India by accelerating policy actions and reforms to enhance service delivery and promote performance-based central fiscal transfers to urban local bodies (ULBs).  The ADB will provide knowledge and advisory support to the Ministry of Housing and Urban Affairs in programme implementation, including monitoring and evaluat...
Asian Development Bank to provide $350 million loan to improve urban services in India
Asian Development Bank to provide $350 million loan to improve urban services in India
Source: Accord Fintech
21/12/2021 1:03:03 PM
India, ADB sign $300 million loan to improve primary health care  India and the Asian Development Bank have signed a $300 million loan to strengthen and improve access to comprehensive primary health care in urban areas of 13 states that will benefit over 256 million urban dwellers including 51 million from slum areas. Interventions through the programme will promote increased utilisation of urban HWCs with provision of comprehensive primary health care packages including non-communicable diseases (NCDs) and community outreach services such as awar...
India, ADB sign $300 million loan to improve primary health care
India, ADB sign $300 million loan to improve primary health care
Source: IANS
25/11/2021 9:28:00 AM
ADB to loan $251 mn for integrated urban flood management in Chennai The Centre on Thursday entered into a $251 million loan agreement with Asian Development Bank (ADB) for a climate-resilient, integrated urban flood protection and management in the Chennai-Kosasthalaiyar basin. The project interventions are expected to reduce the vulnerability of Chennai-Kosasthalaiyar basin residents to frequent floods, which have in recent years destroyed property and livelihoods. Besides, building disaster-resilient infrastructure would help communities cope with intens...
ADB to loan $251 mn for integrated urban flood management in Chennai
ADB to loan $251 mn for integrated urban flood management in Chennai
Source: IANS
29/10/2021 9:46:00 AM
India, ADB sign agreement on loan to support urban mobility in Mizoram India and the Asian Development Bank on Tuesday signed a $4.5 million project readiness financing (PRF) loan to support project preparation and design activities to improve urban mobility in Mizoram's capital Aizawl. After signing the agreement, Additional Secretary, Department of Economic Affairs, in the Finance Ministry, Rajat Kumar Mishra said that the PRF supports the development of long-term solutions to improve urban mobility in Aizawl by identifying high-priority urban transport...
India, ADB sign agreement on loan to support urban mobility in Mizoram
India, ADB sign agreement on loan to support urban mobility in Mizoram
Source: IANS
27/10/2021 9:14:24 AM
ADB lowers India`s GDP growth forecast to 10% for FY22 The Asian Development Bank (ADB) has revised down India's Gross domestic product (GDP) growth forecast to 10 percent for the current fiscal (FY22) from 11 percent predicted earlier, citing the adverse impact of the second wave of the pandemic. The growth forecast for India in fiscal year 2021 (ending in March 2022) was revised down, as the spike in COVID-19 cases during May dented the recovery. However, it said the outbreak dissipated faster than anticipated, resulting in several state...
ADB lowers India`s GDP growth forecast to 10% for FY22
ADB lowers India`s GDP growth forecast to 10% for FY22
Source: Accord Fintech
22/09/2021 12:56:11 PM
India, ADB sign $500 mn loan to expand Bengaluru metro rail network  India and the Asian Development Bank (ADB) on Monday signed a $500 million loan to expand the metro rail network in Bengaluru with construction of two new metro lines totalling 56 km in length. The signatories to the agreement were Additional Secretary, Economic Affairs, Rajat Kumar Mishra, for India, and Country Director of ADB's India Resident Mission Takeo Konishi, for the lender. "The new metro lines will further strengthen safe, affordable and green mobility in Banga...
India, ADB sign $500 mn loan to expand Bengaluru metro rail network
India, ADB sign $500 mn loan to expand Bengaluru metro rail network
Source: IANS
24/08/2021 9:40:55 AM
ADB to loan $484 mn to upgrade road network in TN industrial corridor The Asian Development Bank (ADB) and the Indian government on Wednesday signed an agreement for a $484 million loan to improve transport connectivity and facilitate industrial development in the Chennai-Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu. The CKIC is part of India's East Coast Economic Corridor (ECEC), which stretches from West Bengal to Tamil Nadu and connects India to the production networks of South, Southeast, and East Asia. The ADB is the lead partner of the I...
ADB to loan $484 mn to upgrade road network in TN industrial corridor
ADB to loan $484 mn to upgrade road network in TN industrial corridor
Source: IANS
17/06/2021 9:09:18 AM
Multilateral lending institutions like Asian Development Bank need to extend support to developing countries: FM Nirmala Sitharaman In order to prevent the COVID-induced health crisis from turning into a full-blown economic catastrophe, Finance Minister Nirmala Sitharaman has asked multilateral lending institutions like the Asian Development Bank (ADB) to extend support to developing countries. Nirmala Sitharaman also underlined the need for a coordinated and inclusive global strategy to avoid the long-term debilitating impact of the pandemic on the developing economies. She further said 'The green shoots of recove...
Multilateral lending institutions like Asian Development Bank need to extend support to developing countries: FM Nirmala Sitharaman
Multilateral lending institutions like Asian Development Bank need to extend support to developing countries: FM Nirmala Sitharaman
Source: Accord Fintech
6/05/2021 3:03:43 PM
India`s GDP may grow at 11% in FY22: Asian Development Bank The Indian economy is likely to grow at 11 per cent in the current financial year, said the Asian Development Bank (ADB). In its report, 'Asian Development Outlook (ADO) 2021', the ADB also noted that the recent surge in Covid-19 cases may put this recovery at risk. "India's economy, meanwhile, is expected to grow 11.0 per cent in fiscal year (FY) 2021, which ends on 31 March 2022, amid a strong vaccine drive. However, the recent surge in COVID-19 cases may put this rec...
India`s GDP may grow at 11% in FY22: Asian Development Bank
India`s GDP may grow at 11% in FY22: Asian Development Bank
Source: IANS
28/04/2021 11:30:00 AM
APAC countries may witness uneven pace of recovery Countries in the Asia Pacific region may witness an uneven pace of recovery wherein some economies may revive faster than others, according to a report by Asian Development Bank, UNDP and UNESCAP. Noting that the Covid-19 pandemic is an asymmetric shock it said that countries have been affected differently and the result may be greater economic divergence both within and between countries in the region. "Without concerted and collaborative policy actions, there is a real risk of a ...
APAC countries may witness uneven pace of recovery
APAC countries may witness uneven pace of recovery
Source: IANS
26/04/2021 9:17:41 AM