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Comment on Tata Power`s collaboration for a $4.5bn. investment with ADB by Viswajit Srinivasan, a senior banker of Indian origin based out of UK Below the Comment on Tata Power's collaboration for a  $4.5bn. investment with ADB by Viswajit Srinivasan, a senior banker of Indian origin based out of UK   The MoU signed between the Tata Group and ADB with the backdrop of COP29 represents yet another example of confidence being reposed in  investing in the Indian renewables sector. It is unclear what the nature of support from ADB would be as part of this strategic partnership and whether there would be an ele...
Comment on Tata Power`s collaboration for a $4.5bn. investment with ADB by Viswajit Srinivasan, a senior banker of Indian origin based out of UK
Comment on Tata Power`s collaboration for a $4.5bn. investment with ADB by Viswajit Srinivasan, a senior banker of Indian origin based out of UK
Source: PR Agency
2024-11-22 02:32:30 pm
Tata Power rises on signing MoU with ADB Tata Power Company is currently trading at Rs. 413.10, up by 4.65 points or 1.14% from its previous closing of Rs. 408.45 on the BSE. The scrip opened at Rs. 414.05 and has touched a high and low of Rs. 416.70 and Rs. 411.95 respectively. So far 111045 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 494.85 on 27-Sep-2024 and a 52 week low of Rs. 256.95 on 24-Nov-2023. Last one week high and low of the scrip stoo...
Tata Power rises on signing MoU with ADB
Tata Power rises on signing MoU with ADB
Source: Accord Fintech
2024-11-22 09:49:55 am
Tata Power inks pact with ADB for green projects worth $4.25 billion Tata Power and the Asian Development Bank (ADB) have signed an MoU, coinciding with the ongoing Climate Conference (COP29) at Baku, Azerbaijan, to evaluate financing for its several strategic projects aimed at enhancing India’s power infrastructure and promoting renewable and clean energy, the company announced on Thursday. The MoU outlines the evaluation of financing for several key ongoing projects such as the 966 MW Solar Wind Hybrid project and Pumped Hydro Storage Project and ot...
Tata Power inks pact with ADB for green projects worth $4.25 billion
Tata Power inks pact with ADB for green projects worth $4.25 billion
Source: IANS
2024-11-22 09:03:55 am
AIIB must extend support for India’s Nextgen reforms: FM Nirmala Sitharaman  Finance Minister Nirmala Sitharaman said on Monday that the Asian Infrastructure Investment Bank (AIIB) should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India’s next-generation reforms.   She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB’s project design and implementation. FM...
AIIB must extend support for India’s Nextgen reforms: FM Nirmala Sitharaman
AIIB must extend support for India’s Nextgen reforms: FM Nirmala Sitharaman
Source: IANS
2024-11-12 10:51:28 am
ADB approves 1.7 billion USD financing to boost Philippines` regional connectivity The Asian Development Bank (ADB) on Thursday said it has approved financing of up to almost $1.7 billion to help build a climate-resilient 37.5 km expressway along the Philippines' biggest lake to promote regional connectivity.  The Laguna Lakeshore Road Network Project (LLRN) aims to provide the most resilient road link within the southern Manila transport corridor and cut peak hour travel time between Taguig City in Metro Manila and Calamba City in Laguna province by 25 per cent...
ADB approves 1.7 billion USD financing to boost Philippines` regional connectivity
ADB approves 1.7 billion USD financing to boost Philippines` regional connectivity
Source: IANS
2024-11-07 04:50:32 pm
Centre inks pact for $200 million ADB loan to upgrade urban infra in Uttarakhand The Indian government and the Asian Development Bank (ADB) on Wednesday signed an agreement for a $200 million loan to help upgrade water supply, sanitation, urban mobility, and other urban services in the state of Uttarakhand.  The signatories to the loan agreement for the Uttarakhand Livability Improvement Project were Joint Secretary, Department of Economic Affairs in the Finance Ministry, Juhi Mukherjee, for the government, and the ADB Country Director of India Resident Mission, M...
Centre inks pact for $200 million ADB loan to upgrade urban infra in Uttarakhand
Centre inks pact for $200 million ADB loan to upgrade urban infra in Uttarakhand
Source: IANS
2024-11-06 05:54:20 pm
Subsidies to oil & gas sector reduce 85% to $3.5 billion in 10 years: MNRE The Ministry of New and Renewable Energy (MNRE) has said that subsidies to the oil & gas sector saw a reduction of 85 per cent from a peak of $25 billion in 2013 to $3.5 billion by 2023. Since 2010, India has steadily reformed its fossil fuel subsidies, adopting a ‘remove, target, and shift’ approach. The ministry said, as per a report of Asian Development Bank (ADB), structured approach, including adjusting retail prices, tax rates, and subsidies on select petroleum products ...
Subsidies to oil & gas sector reduce 85% to $3.5 billion in 10 years: MNRE
Subsidies to oil & gas sector reduce 85% to $3.5 billion in 10 years: MNRE
Source: Accord Fintech
2024-11-05 11:49:29 am
ADB praises India for cutting subsidies on fossil fuels to boost green energy  The Asian Development Bank (ADB) has praised India for adopting policies to cut subsidies on fossil fuels on petroleum products and levying a cess on coal to create fiscal space for increasing government support to renewable energy, electric vehicles and strengthening of electricity infrastructure.  "By carefully balancing the combined effect of three key policy levers - retail prices, tax rates, and subsidies on selected petroleum products - the country was able to reduce ...
ADB praises India for cutting subsidies on fossil fuels to boost green energy
ADB praises India for cutting subsidies on fossil fuels to boost green energy
Source: IANS
2024-11-03 12:07:52 pm
World Bank expects 5.1 pc growth for Nepal The World Bank on Wednesday projected a growth of 5.1 per cent for Nepal in the current 2024-25 fiscal year starting in mid-July, below the Nepali government's 6 per cent target.  Growing tourist arrivals, more hydropower generation and expected growth in paddy production shall contribute more to Nepal's gross domestic product, the bank said in its Nepal Development Update report. The South Asian country achieved a growth of 3.9 per cent in 2023-24, noted the international ...
World Bank expects 5.1 pc growth for Nepal
World Bank expects 5.1 pc growth for Nepal
Source: IANS
2024-10-02 05:24:58 pm
Asian Development Bank approves $37.5 million grant to Nauru The Asian Development Bank (ADB) on Friday said it has approved a grant of $37.5 million to boost urban services in Nauru.  The Sustainable and Resilient Urban Development Project is funded by the Asian Development Fund, which provides grants to the ADB's poorest and most vulnerable developing members. The government of Nauru also contributes $2.3 million, Xinhua news agency reported. "Increasing exposure to natural hazards and poor access to reliable water supply and s...
Asian Development Bank approves $37.5 million grant to Nauru
Asian Development Bank approves $37.5 million grant to Nauru
Source: IANS
2024-09-27 02:11:18 pm
ADB retains India`s GDP growth forecast at 7% for FY25 The Asian Development Bank (ADB) has retained India's Gross domestic product (GDP) growth forecast for the current fiscal (FY25) at 7 per cent and said that the economy is expected to accelerate in the coming quarters on improved farm output, and higher Government spending. It said exports in the current fiscal will be higher than earlier projected, led by larger services exports. However, merchandise export growth will be relatively muted through the next fiscal. The Indian economy grew ...
ADB retains India`s GDP growth forecast at 7% for FY25
ADB retains India`s GDP growth forecast at 7% for FY25
Source: Accord Fintech
2024-09-25 11:56:15 am
ADB, Bhutan sign loan agreement for solar power project The Asian Development Bank (ADB) said it has signed a US$30 million loan agreement with Bhutan to fund a solar power project.  The Distributed Solar for Public Infrastructure Project aims to generate up to 35 megawatts of solar power systems on rooftops of public infrastructure across the country, according to Xinhua news agency. According to the bank, energy security in Bhutan has become a growing concern because of rising electricity demand and insufficient power supply, particul...
ADB, Bhutan sign loan agreement for solar power project
ADB, Bhutan sign loan agreement for solar power project
Source: IANS
2024-09-25 09:33:56 am
ADB approves $500 million loan to boost Indonesia`s energy transition The Asian Development Bank (ADB) on Friday said it has approved a policy-based loan of $500 million to accelerate Indonesia's transition towards sustainable and clean energy.  The Affordable and Sustainable Energy Transition Program will support various policy measures for the country to achieve its enhanced nationally determined contribution and net-zero power emission targets by 2050, of which this is the first of two subprogrammes, Xinhua news agency reported. The rapid expa...
ADB approves $500 million loan to boost Indonesia`s energy transition
ADB approves $500 million loan to boost Indonesia`s energy transition
Source: IANS
2024-09-20 11:41:51 am
ADB approves US$109.5 million in financing to Kyrgyzstan The Asian Development Bank (ADB) on Thursday said it has approved US$109.5 million in financing to fund a road project around the Issyk-Kul Lake, one of the most popular tourist destinations in Kyrgyzstan.  The Issyk-Kul Ring Road Improvement Project will construct 75.2 kilometres of the national road traversing the Barskoon to Karakol section of the Issyk-Kul Ring Road, which adjoins the Central Asia Regional Economic Cooperation Corridor 1, Xinhua news agency reported. The ADB sa...
ADB approves US$109.5 million in financing to Kyrgyzstan
ADB approves US$109.5 million in financing to Kyrgyzstan
Source: IANS
2024-09-19 02:09:46 pm
Asian Development Bank approves 100 million USD loan to Sri Lanka The Asian Development Bank (ADB) on Wednesday said it has approved a policy-based loan of 100 million US dollars to support Sri Lanka's water supply and sanitation sector reforms, which are designed to enhance the country's resilience to climate change impacts and promote long-term sustainability.   The ADB said the Water Supply and Sanitation Reform Programme, composed of two subprogrammes of 100 million dollars each, will contribute to a more resilient and sustainable deliv...
Asian Development Bank approves 100 million USD loan to Sri Lanka
Asian Development Bank approves 100 million USD loan to Sri Lanka
Source: IANS
2024-09-12 11:19:00 am
ADB launches new 5-year strategy for Uzbekistan The Asian Development Bank (ADB) has said that it has launched a new country partnership strategy for Uzbekistan, spanning the period 2024 to 2028.  The ADB said on Tuesday that the new five-year strategy aims to facilitate the central Asian nation's transition to a green economy, support private sector development and competitiveness and promote investments in human capital, Xinhua news agency reported. The new strategy envisages ADB interventions in various sectors, including...
ADB launches new 5-year strategy for Uzbekistan
ADB launches new 5-year strategy for Uzbekistan
Source: IANS
2024-08-28 09:32:56 am
ADB approves $30 mn grant to improve healthcare services in Tajikistan  The Asian Development Bank (ADB) said on Thursday that it has approved a grant of $30 million to enhance maternal and child healthcare services in three districts of Tajikistan.  The ADB said the project will support the construction of a 40-bed maternity hospital in Ayni, an 80-bed maternity hospital in Dangara, and a 100-bed central district hospital in Darvoz, all with climate-friendly features such as energy-efficient medical, heating, and cooling technology, Xinhua news age...
ADB approves $30 mn grant to improve healthcare services in Tajikistan
ADB approves $30 mn grant to improve healthcare services in Tajikistan
Source: IANS
2024-08-15 04:50:30 pm
Rupee weakens against US dollar on Thursday Indian rupee weakened against the US dollar on Thursday due to profit-taking in domestic equities and elevated crude oil prices. Moreover, marginal gains in American currency at overseas markets also weighed on rupee sentiments. However, some losses were limited by foreign fund inflows with data showed Foreign Institutional Investors purchased shares worth Rs 1,271.45 crore on Tuesday, and media reports showed that the Asian Development Bank on Wednesday maintained its GDP growth forecast for...
Rupee weakens against US dollar on Thursday
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
2024-07-18 11:56:16 am
ADB retains India`s growth forecast at 7% for current financial year The Asian Development Bank (ADB) in its July edition of the Asian Development Outlook (ADO) has maintained India’s GDP growth forecast at 7 per cent for the current financial year (FY25), citing that a rebound in agriculture is expected given above-normal monsoon projections. It stated the Indian economy is on track to grow by 7 per cent in FY25 (ending 31 March 2025) and 7.2 per cent in next financial year, as projected in ADO April 2024. The Indian economy logged a growth rate of 8...
ADB retains India`s growth forecast at 7% for current financial year
ADB retains India`s growth forecast at 7% for current financial year
Source: Accord Fintech
2024-07-18 10:29:28 am
ADB forecasts robust growth in India`s industrial sector, rebound in agriculture The Asian Development Bank (ADB) has kept India’s growth forecast unchanged at 7 per cent in 2024-25 as it sees the country as the fastest growing economy with robust growth in the industrial sector and a rebound in agriculture due to a better monsoon.  The ADB projected India’s economy to grow faster at 7.2 per cent in 2025-26, in its report released on Wednesday. “The outlook for India, the region’s fastest-growing economy, is unchanged at 7.0 per cent for...
ADB forecasts robust growth in India`s industrial sector, rebound in agriculture
ADB forecasts robust growth in India`s industrial sector, rebound in agriculture
Source: IANS
2024-07-17 12:18:01 pm
Asian Development Bank approves $40 mn loan to Bhutan The Asian Development Bank (ADB) on Thursday said it has approved a policy-based loan of 40 million US dollars to help Bhutan further strengthen its public financial management and green growth.   The concessional loan aims to support policy reforms in expanding domestic resource mobilisation, promoting private sector development, and introducing climate change adaptation and mitigation measures, Xinhua news agency reported. Under the program, domestic resource mobilisation is e...
Asian Development Bank approves $40 mn loan to Bhutan
Asian Development Bank approves $40 mn loan to Bhutan
Source: IANS
2024-06-20 05:45:59 pm
PhonePe showcases its services powered by UPI at a special event in Nepal PhonePe India on Friday showcased its services powered by the Unified Payments Interface (UPI) platform at a special event held in Nepal. The event brought together key stakeholders from the Nepalese financial landscape, including senior representatives from Banking sectors, Payment System Providers, UPI-accepting merchants and representatives from business associations. The event was supported by Nepal's largest payment system operator, Fonepay Payment Service Limited, which is also N...
PhonePe showcases its services powered by UPI at a special event in Nepal
PhonePe showcases its services powered by UPI at a special event in Nepal
Source: IANS
2024-05-03 03:57:16 pm
ADB ups India`s growth forecast for 2024-25 to 7 pc, expects inflation to dip The Asian Development Bank (ADB) on Thursday raised India’s GDP growth forecast for 2024-25 to 7 per cent as it expects public and private sector investment along with a gradual improvement in consumer demand to drive up the growth rate. The ADB had in December projected India’s economic growth rate at 6.7 per cent for the 2024-25 financial year. The ADB also expects India’s inflation rate to come down going ahead. "The Indian economy grew robustly in fiscal 20...
ADB ups India`s growth forecast for 2024-25 to 7 pc, expects inflation to dip
ADB ups India`s growth forecast for 2024-25 to 7 pc, expects inflation to dip
Source: IANS
2024-04-11 01:46:23 pm
Government inks pact for $23 mn ADB loan to strengthen fintech ecosystem in India  The Government of India and the Asian Development Bank (ADB) on Thursday signed a $23 million loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT-City). GIFT City is an initiative of the Central Government and the Gujarat Government to foster India’s financial services and fintech ecosystem. The loan agreement provides for the setting up an International Fintech Institute (IFI) to strengt...
Government inks pact for $23 mn ADB loan to strengthen fintech ecosystem in India
Government inks pact for $23 mn ADB loan to strengthen fintech ecosystem in India
Source: IANS
2024-03-15 11:05:20 am
U GRO CAPITAL`S impact financing receives another endorsement from Asian Development Bank UGRO Capital, a leading DataTech NBFC focused on MSME lending, announced a significant milestone, having successfully raised ~INR 2,500 million through Non-Convertible Debentures (NCDs) from the prestigious Asian Development Bank (ADB). This investment underscores ADB's unwavering commitment to fostering inclusive, resilient, and sustainable prosperity by supporting small businesses at the grassroots level. UGRO had received financing of INR 2,500 million through Non-Convertible Debent...
U GRO CAPITAL`S impact financing receives another endorsement from Asian Development Bank
U GRO CAPITAL`S impact financing receives another endorsement from Asian Development Bank
Source: PR Agency
2024-01-31 01:42:35 pm
Centre secures $100 mn ADB loan to boost urban facilities, tourism in Tripura The Government of India has signed an agreement with the Asian Development Bank (ADB) to avail a $100 million loan to improve urban services and tourism facilities in Tripura, the Finance Ministry announced on Friday. The project will improve municipal infrastructure and public services in the urban local bodies (ULBs) along the main national highways in Tripura, besides upgrading the key tourism sites. It will upgrade urban water supply systems by installing 42 km new transmission and ...
Centre secures $100 mn ADB loan to boost urban facilities, tourism in Tripura
Centre secures $100 mn ADB loan to boost urban facilities, tourism in Tripura
Source: IANS
2023-12-23 12:12:41 pm
India`s ReNew signs pact with Asian Development Bank for $5.3 billion India's ReNew Energy Global said on Monday it signed a pact worth more than $5.3 billion with Asian Development Bank to collaborate on projects related to tackling climate change. The memorandum of understanding, signed at the COP28 conference in Dubai, comes as demand for clean energy is booming. The companies have already identified potential investments, Nasdaq-listed ReNew said. ReNew added the pact covers projects between 2023 and 2028 with a total investment value of more than...
India`s ReNew signs pact with Asian Development Bank for $5.3 billion
India`s ReNew signs pact with Asian Development Bank for $5.3 billion
Source: Reuters
2023-12-05 12:58:08 pm
ADB provides 106 mn for water management, agricultural productivity in Bangladesh The Asian Development Bank (ADB) and the Bangladesh government on Sunday signed a loan agreement for 106 million US dollars to improve water resources management and agricultural productivity in the South Asian country. An agreement for a grant of 17.80 million US dollars from the government of the Netherlands was also signed, Xinhua news agency reported. ADB said it will administer the grant, which will finance innovative pilot works and consulting services focusing on innovation. &...
ADB provides 106 mn for water management, agricultural productivity in Bangladesh
ADB provides 106 mn for water management, agricultural productivity in Bangladesh
Source: IANS
2023-10-29 06:03:13 pm
ADB approves $400 million loan for better infra in Indian cities The Asian Development Bank (ADB) has approved a $400 million loan to support the Indian government in improving the quality of urban life through the creation of high-quality urban infrastructure, assured public services, and efficient governance systems.The loan under Subprogramme 2 will support investment planning and reform actions at the state and urban local body (ULB) levels, the ADB said.  ?India has recognised the potential for cities to be centers of economic growth and has...
ADB approves $400 million loan for better infra in Indian cities
ADB approves $400 million loan for better infra in Indian cities
Source: IANS
2023-10-26 11:00:53 am
ADB slightly lowers India`s growth projection to 6.3% for current fiscal The Asian Development Bank (ADB) in its Asian Development Outlook September 2023 has said that it has marginally lowered India's growth forecast to 6.3 per cent for the current financial year from its earlier projection of 6.4 per cent owing to slowing exports and the likely impact of erratic rainfall on agriculture output.Further, it said Indian growth in the rest of this fiscal year and next will be propelled by robust domestic consumption as consumer confidence improves, and by investment,...
ADB slightly lowers India`s growth projection to 6.3% for current fiscal
ADB slightly lowers India`s growth projection to 6.3% for current fiscal
Source: Accord Fintech
2023-09-21 11:34:35am
Gold softens ahead of US Federal Reserves policy decision Gold prices fell on Wednesday after hitting a two-week highs in the last session, as traders await the U.S. Federal Reserve's policy decision for an updated outlook on the economy and monetary tightening path.FUNDAMENTALS* Spot gold eased 0.1% to $1,928.79 per ounce by 0111 GMT, after hitting its highest since Sept. 5 on Tuesday. U.S. gold futures dipped 0.2% to $1,950.* As Treasuries wobble ahead of the Fed outcome, some investors are buying into the weakness, confident that a peak in intere...
Gold softens ahead of US Federal Reserves policy decision
Gold softens ahead of US Federal Reserves policy decision
Source: Reuters
2023-09-20 08:56:59am