Asian Development Bank Current Affairs, GK & News

Asian Development Bank

ADB is multilateral lending agency based in Manila, Philippines. It is dedicated to reduce poverty in Asia and the Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Important Facts ADB has 67 members – 48 from the Asia-Pacific region including India and is collectively owned by these 67 members. The non ..

ADB provided $1.5-billion to India for Covid response

The Asian Development Bank has provided fiscal support of 1.5 billion USD to India to fight against COVID-19 crisis. This is according to the Annual Report, 2020 of ADB that was released recently. This is part of the fiscal support the bank has set aside for pandemic. Key Findings of the Report The Asian Development ..

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ADB Loan for Meghalaya Power Distribution Sector

The Government of India recently signed 133 million USD loan Agreement with the Asian Development Bank. Agreement was signed to strengthen the power distribution sector in the state of Meghalaya. Also, the loan is to be supplemented with a 2 million USD grant from the Asian Development Bank Japan fund for poverty reduction. This fund ..

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India-ADB sign 177 million USD to develop roadways

On October 19, 2020, the Government of India and the Asian Development Bank (ADB) signed an agreement of 177 million USD to upgrade 450 km of district roads and state highways in the state of Maharashtra. Highlights The loan agreement was signed between the Department of Economic Affairs operating under Ministry of Finance, Maharashtra State ..

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ADB: Asian Economy to shrink for First Time since 1960s

The Asian Development Bank have predicted that the Asian economy will shrink for the first time since the early 1960s amid the COVID-19 Pandemic. The report states that downfall in the level of growth will continue until the next year. Background The Development bank had earlier in June 2020 predicted that the Gross Domestic Product ..

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ADB provides loan for Delhi-Meerut RRTS Corridor

To build a high-speed 82-km Delhi-Meerut regional rapid transit system (RRTS) corridor, India and Asian Development Bank (ADB) signed a 500-million-dollar loan on September 8, 2020. This will improve regional connectivity and mobility in the Delhi-NCR region. The corridor connects Sarai Kale Khan, Delhi to Modipuram, Meerut. The corridor will reduce the journey time to one hour ..

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