ADB committed to provide USD 3 billion in sovereign loans to India in 2018, the highest level of assistance since sovereign operations began in the country in 1986, said the annual report of multilateral lending agency.
In all, the Asian Development Bank (ADB), owned by 68 member countries, committed a total of USD 3.88 billion, including sovereign loans and co-financing during the year ended December 2018.
The demand for ADB assistance continued to grow in 2018. New commitments included USD 21.6 billion in loans, grants and investments from ADB’s own resources, exceeding the target of USD 19.71 billion and up 10 per cent from 2017, said the report released on Tuesday.
Private sector operations reached USD 3.14 billion, a 37 per cent increase from 2017, which is 14.5 per cent of ADB’s overall commitment. Read More