indian_foxhound
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Greater Noida: The Asian Development Bank
(ADB) Sunday said it will provide about USD 6
billion loan to India over the next three years,
even as the multilateral lender stated it is facing
the challenge of raising resources. "Our idea is ADB will maintain its lending level to
India, approximately USD 2 billion over next three
years. "We are now working on the country
partnership strategy and we are planning to
maintain the level of lending to India," ADB
President Takehiko Nakao said at the concluding
day of the 46th annual meeting of the funding
agency here. India is the biggest borrower of ADB. The Manila-based multilateral lender had
extended USD 2.4 billion loan to India in 2012
across sectors like transport, energy, commerce,
industry, trade and finance. Asked about whether ADB has identified
projects, Nakao said it is too premature to talk
about any specific ones but ADB team is looking
at various concrete projects. He also said that the bank will continue to lend
USD 10 billion a year across the member-nations
despite generating lower return from
investments. Stating that ADB is facing a resource challenge, he
said this issue will require urgent and careful
attention. "We will look at all options for ensuring
that our lending level remains adequate." Actively investing in different kinds of assets can
be one of the options for larger revenue, he said,
adding that "financial safety and return is the key
objective while making investment". Asked whether there was discussion on
augmenting the capital of the bank at the Board
of Governors meeting, Nakao said: "That is a very
difficult issue. At this point I want to mention
what kind of objections we are getting to
maintain the level of lending. I don't want to specify what kind of idea we have at this
moment." ADB's capital was tripled in 2009. The fund
enhancement came after a gap of 15 years.
http://www.zeenews.com/businessnews.aspx?id=75569
(ADB) Sunday said it will provide about USD 6
billion loan to India over the next three years,
even as the multilateral lender stated it is facing
the challenge of raising resources. "Our idea is ADB will maintain its lending level to
India, approximately USD 2 billion over next three
years. "We are now working on the country
partnership strategy and we are planning to
maintain the level of lending to India," ADB
President Takehiko Nakao said at the concluding
day of the 46th annual meeting of the funding
agency here. India is the biggest borrower of ADB. The Manila-based multilateral lender had
extended USD 2.4 billion loan to India in 2012
across sectors like transport, energy, commerce,
industry, trade and finance. Asked about whether ADB has identified
projects, Nakao said it is too premature to talk
about any specific ones but ADB team is looking
at various concrete projects. He also said that the bank will continue to lend
USD 10 billion a year across the member-nations
despite generating lower return from
investments. Stating that ADB is facing a resource challenge, he
said this issue will require urgent and careful
attention. "We will look at all options for ensuring
that our lending level remains adequate." Actively investing in different kinds of assets can
be one of the options for larger revenue, he said,
adding that "financial safety and return is the key
objective while making investment". Asked whether there was discussion on
augmenting the capital of the bank at the Board
of Governors meeting, Nakao said: "That is a very
difficult issue. At this point I want to mention
what kind of objections we are getting to
maintain the level of lending. I don't want to specify what kind of idea we have at this
moment." ADB's capital was tripled in 2009. The fund
enhancement came after a gap of 15 years.
http://www.zeenews.com/businessnews.aspx?id=75569
