March 28, 2024
  • The Asian Development Bank (ADB) recently rolled out its 2023-27 Country Partnership Strategy (CPS) for India that identifies accelerating structural transformation and job creation, promoting climate-resilient growth, and deepening social and economic inclusiveness as key focus areas.
  • ADB projects India to grow at 6.4% in FY24.
  • As of December 2022, ADB had committed $52.6 billion in public sector loans, grants, and technical assistance in India, as well as $8 billion in private sector investments.

ABOUT ASIAN DEVELOPMENT BANK

  • Asian Development Bank (ADB) was established in the year 1966.
  • This bank was modelled on the lines of the World Bank.
  • HQ- Manila , Philippines
  • It assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
  • Members: 68 members—of which 49 are from within Asia and the Pacific and 19 outside
  • Japan holds the largest share in ADB with 15.677%, followed by U.S.A (15.567%), China (6.473%), and India (5.812%).
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