Asian Development Bank proposes up to $25 billion development support to India

In a meeting with PM Modi, the ADB president announced the 'multifaceted' support for the country over 5 years for an infrastructural push, including a connectivity plan among others.

Representational image | Asian Development bank headquarters, Manila | Commons

New Delhi: The Asian Development Bank’s (ADB) president has proposed up to $25 billion development support to India over 5 years in a meeting with Prime Minister Narendra Modi on Tuesday, a statement from the bank said.

“ADB will provide multifaceted support for India’s key priorities,” the statement quoted ADB president Masatsugu Asakawa as saying.

This includes support for an infrastructure push a under a connectivity plan, support for building cities, mobilising domestic resources and strengthening basic services in disadvantaged districts, the statement added.

 

(Reporting by Shivam Patel in New Delhi; Editing by Alex Richardson)