Ashok Lavasa Appointed as Vice-President of ADB

Election Commissioner Ashok Lavasa has been appointed as the Vice-President for the private sector operations and public-private partnerships by the Asian Development Bank. Mr Lavasa has served as Finance Secretary, Secretary of the Ministry of Environment and Forests etc. in the past. He is going to succeed Mr Diwakar Gupta, who is going to superannuate on August 31, 2020. The multi-lateral lending organization has stated that Mr Lavasa has been appointed owing to his vast experience in public-private partnerships and infrastructure development at the state and the central level.

Asian Development Bank

Asian Development Bank is a regional organization that was established in 1966 and is based in Manila, Philippines. As of now, the organization has 68 members. The bank accepts membership from the United Nations Economic and Social Commission for Asia and the Pacific and also non-regional developed countries. The main objective of the bank is to extend funding in various areas concerning public services such as education, environmental sustainability, finance sector development, regional cooperation and integration, etc. Masatsugu Asakawa is the current president of the Asian Development Bank. India was a founding member of ADB.

Month: Current Affairs - July, 2020