Covid-19 support spurs ADB's record lending commitment to India
New Delhi [India], May 20 (ANI): The Asian Development Bank (ADB) committed 3.92 billion dollars in sovereign loans for 13 projects to India in 2020, including 1.8 billion dollars in projects to support the government's coronavirus disease (Covid-19) pandemic response.
ANI
May 20, 2021 10:52 IST
New Delhi [India], May 20 (ANI): The Asian Development Bank (ADB) committed 3.92 billion dollars in sovereign loans for 13 projects to India in 2020, including 1.8 billion dollars in projects to support the government's coronavirus disease (Covid-19) pandemic response.
This is ADB's highest-ever annual lending commitment to India since the start of its lending operations in 1986. ADB also committed 356.1 million dollars through its non-sovereign operations to India, including three Covid-19 support projects.
As part of its pandemic support to India, ADB provided emergency assistance to contain the disease and establish social protection measures for relief to the poor and other vulnerable groups.
It also approved financing to help the government improve equitable access to comprehensive primary health care in urban areas.
"Going forward, ADB stands ready to provide additional resources to address India's many Covid-19-related challenges, including funds to expedite the country's ongoing vaccination programme and build the health system's resilience against future shocks, with supplementary support to protect small businesses and underpin education and social protection," said ADB Country Director for India Takeo Konishi.
"ADB is also expanding assistance to quality infrastructure development to support India's fast economic recovery. ADB's lending assistance will be further supported with knowledge work to help develop transformative projects," he said in a statement.
Throughout 2020, ADB continued its regular assistance to energy, transport, urban development and public sector management.
Among the new projects committed in 2020 included 500 million dollars to build a modern, high-speed 82-km Delhi-Meerut Regional Rapid Transit system corridor; energy sector loans to strengthen distribution network in Maharashtra, Karnataka, Uttar Pradesh and Meghalaya; and to build a 120-megawatt hydroelectric power plant in Assam.
In the urban sector, ADB approved loans for sustainable urban development in secondary and smaller towns in Rajasthan and Madhya Pradesh.
ADB also committed funds to support the state government of West Bengal's fiscal consolidation programme. Through its project readiness financing, ADB committed funds to provide Tripura and Himachal Pradesh with capacity development support for planning and designing. (ANI)
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