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ADB President lauds India's efforts at accelerating growth

By Niranjan Mudholkar,

Added 06 February 2015

Planning to maintain the high lending level of $7-$9 billion during 2015-2017 to support the government’s vision.

In social sectors, ADB is supporting India's national skills development program, initially through projects in the states of Meghalaya and Kerala to help match skills with jobs. ADB stands ready to support through lending the Swachh Bharat (Clean India) Mission, a flagship government program to improve sanitation across India.

During his two-day visit, President Nakao also delivered a keynote address at the Delhi Sustainable Development Summit entitled Solutions for Inclusive, Green, and Resilient Cities. By 2050, 3 billion people, or about 65% of all Asians, will live in cities.

Regarding inclusiveness, the success of poverty reduction efforts in Asia will depend largely how cities are managed to protect the poor from economic and environmental shocks. He emphasized the importance of making cities greener through promotion of low-carbon development, and smart use of land and water.

Cities like Kolkata and Mumbai are growing fast and are also highly vulnerable to climate change, notably coastal flooding as sea levels rise. Upfront investments in better urban infrastructure design can help mitigate the risk of natural hazards and climate change and can save lives.

India is ADB's largest borrower. Since 1986 when ADB started lending operations in India, ADB has approved 189 sovereign loans totaling $31.3 billion. ADB has also approved 50 non-sovereign loans, equity investments, and guarantees totaling $3.6 billion.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members - 48 from the region.
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