Asian Development Bank lends record $4.6 billion loans to India in 2021.

Why in news?

• As per the data official released by the Asian Development Bank (ADB), it provided a record USD 4.6 billionin sovereign lending to India in 2021.
• This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response.
• The $ 4.6 billion was committed by ADB for 17 loans.
• The $1.8 billion COVID-19-related assistance included USD 1.5 billion for vaccine procurement and $ 300 million to strengthen primary health care in urban areas and the country’s future pandemic preparedness.
• The ADB’s project portfolio in 2021 reflected the Indian government’s focus on transforming cities into economically vibrant and sustainable communities.

About Asian Development Bank

• The Asian Development Bank is a regional development bank established in 1966.
• It is headquartered in Manila, Philippines.
• It also maintains 31 field offices around the world to promote social and economic development in Asia.