ADB announces increased funding to India
Q. Multi-lateral funding agency Asian Development Bank (ADB) announced that it will increase annual funding to India to up to __________.- Published on 29 Nov 17
a. $4 billion
b. $2.7 Billion
c. $3 Billion
d. $5 Billion
ANSWER: $4 billion
Multi-lateral funding agency Asian Development Bank (ADB) announced that it increase annual funding to India to up to $4 billion from existing $2.7 billion from next year to accelerate inclusive economic transformation.
As part of ADB's Country Partnership Strategy 2018-22, the multi-lateral funding agency will provide loans up to $4 billion on annual basis including non-sovereign or private debt during 2018-22.
Cumulatively, India which is the largest recipient of ADB will get about $20 billion over a period of 5 years.