The G20 Leaders’ Summit on September 9-10 is expected to spell out ways to enhance the funding capacities of multilateral development banks (MDBs) to meet sustainable development goals and other emerging challenges. In line with this, the Asian Development Bank, one of the oldest MDBs, is undertaking a range of bold reforms on its own, to attune itself to the new development paradigms. ADB President Masatsugu Asakawa tells FE’s Prasanta Sahu that India’s infrastructure investments, focus on fiscal consolidation and business-oriented reforms have enhanced the climate for private investments in the country. Edited excerpts:
What is the break-up of ordinary capital resources and “special funds” as far as ADB lending to India is concerned? What are the new growth-inducing areas ADB is looking at, when it comes to funds for India?
ADB has a strong partnership with India, commencing operations in 1986. To date, ADB has committed 605 public sector loans, grants, and technical assistance totalling $52.6 billion to India. Our ongoing public sector operations portfolio as of mid-2023 comprises 66 loans worth over $15 billion. Most are financed by regular ordinary capital resources, and some through other special funds.
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