Page-6 of Asian Development Bank (ADB) Current Affairs, GK & News

World Bank: India is expected to grow at 1.5% to 2.8%

On April 13, 2020, the World Bank released its report “South Asia Economic Focus”. According to the report, the Indian Economy is expected to grow at 1.5% to 2.8%. Key Highlights of the report The report says that India’s growth rate is to be the lowest since its balance of payment crisis in 1991. Earlier, ..

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ADB assures 2.2 billion USD loan to India

India had earlier approached Asian Development Bank and Asian Infrastructure Investment Bank for loans to fight against COVID-19. With India’s request, the ADB has assured a loan of 2.2 billion USD. Highlights The funds are to be used to help alleviate poverty, and also address economic impacts on micro, medium and small size enterprises. GoI ..

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Empowered Group constituted to coordinate COVID-19 related Response Activities

On April 5, 2020, the Government of India constituted an empowered group under the chairmanship of NITI Aayog CEO Amitabh Kant. The group will coordinate with NGOs, private sector and international organizations for COVID-19 related response activities. Highlights The Group consists of three branches of stakeholder. In the first group, the stakeholders are from UN ..

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India seeks 6 billion USD loans from ADB, AIIB

The World Bank has funded 1 billion USD to India to fight against COVID-19. With the COVID-19 cases increasing further, India seeks 6 billion USD from ADB and AIIB Highlights The Indian Economy is to take a major hit with the 21-day lock down. The Asian Development Bank has predicted that India’s growth rate is ..

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Asian Development Bank to invest 100 million USD in NIIF

On March 30, 2020, the Asian Development Bank announced that it is to invest 100 million USD in National Investment and Infrastructure Fund (NIIF). The investment during an economic slow down is a great boost for the Indian Economy. NIIF The National Investment and Infrastructure Funds were set up in 2015. The main purpose of ..

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