Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | ADB to Provide $10 Bn Assistance to India Over 5 Years

ADB to Provide $10 Bn Assistance to India Over 5 Years

Share this article Share this article
published Published on Nov 6, 2013   modified Modified on Nov 6, 2013
-Outlook


Multilateral lending agency Asian Development Bank (ADB) will provide loan of USD 2 billion annually for five years till 2017 to India to create jobs, enhance investment reforms, and improve infrastructure.

"The ADB and Government of India have agreed to a new country partnership strategy for 2013-2017 which supports the country's 12th Five Year Plan .... The strategy comes with a financial envelope of around USD 10 billion...," the Manila based lender said in a statement.

The resource envelope for sovereign operations is about USD 2 billion per year for the next five years and India will remain ADB's largest single country borrower, it added. I

It further said that ADB's allocated resources to India could double in amount if third-party financing and lending to private and state-owned companies is taken into account.

The country partnership strategy, it added, supports the Five Years Plan to create jobs for youth, enhances ongoing investment reforms, and improves infrastructure in critical areas such as energy, transport, urban services and water.

The agency will also partner with India to anchor transactions that can tap national, regional and international capital markets which can help to shift savings into infrastructure development.

"India is taking credible steps to stabilise the economy and its currency, modernise its infrastructure, and promote social programmes ... This strategy is a reflection of the government's desire to bring high, inclusive and sustainable growth, create jobs, and cut red tape," said Juan Miranda, Director General for ADB's South Asia Department.

The strategy combines physical investments with knowledge products to target emerging issues such as urbanisation, water scarcity, climate change, emission controls, internet connectivity, vocational training, and development of capital markets, said ADB, which is owned by 67 members.


Outlook, 6 November, 2013, http://news.outlookindia.com/items.aspx?artid=816220


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close