Govt and ADB sign $61 million loan for development of Agartala

Indian government and Asian Development Bank (ADB) signed a loan agreement of $61 million in order to improve liveability, promote new developments and harness technology. Key Facts The loan agreement will help in accommodating the expanding population in Agartala city. ..

Month: Current Affairs - November, 2021

India applies for vaccine loans from ADB & AIIB

India applied for a $2 billion loan from Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) to purchase about 700 million Covid-19 vaccines. Highlights India applied for the loan as it seeks to boost immunisation rate of eligible ..

Month: Current Affairs - October, 2021

FATF adds Turkey to Grey List; Pak retained

Global terror financing watchdog, Financial Action Task Force (FATF), retained Pakistan on the ‘Grey List of countries’. Key Points This time, the watchdog had added three new countries namely Turkey, Jordan & Mali, to the Grey List. As per FATF, ..

Month: Current Affairs - October, 2021

ADB cuts India’s Growth Forecast to 10%

The Asian Development Bank (ADP) has reduced its forecast for India’s GDP growth to 10 percent in 2021-22, from 11 percent it projected earlier. Key Points GDP growth was reduced as the downside risks were dominating the economic outlook. ADB ..

Month: Current Affairs - September, 2021

India-ADB deal to improve urban water supply infrastructure in Jharkhand

Government of India and Asian Development Bank (ADB) signed a $112 million loan in order to develop water supply infrastructure in the state of Jharkhand. Key facts The loan will also strengthen capacities of urban local bodies (ULBs) in order ..

Month: Current Affairs - September, 2021

India-ADB sign loan to expand Rural Connectivity in Maharashtra

Indian government and the Asian Development Bank (ADB) signed a 300-million-dollar loan on September 8, 2021 to expand rural connectivity in Maharashtra. Highlights Loan agreement was signed as additional financing in order to scale up improvement of rural connectivity. Additional ..

Month: Current Affairs - September, 2021

ADB approves $150 million loan for T.N. urban poor housing project

On September 3, 2021, Asian Development Bank (ADB) approved a $150 million loan for Tamil Nadu Urban Poor Housing Project. Key Points According to ADB, Tamil Nadu is vital for the economic growth of India. It is currently contributing 8.54 ..

Month: Current Affairs - September, 2021

ADB report: Covid-19 pushes 80 million people in Asia into Extreme Poverty

According to a new report titled “Key Indicators for Asia and the Pacific 2021” released by Asian Development Bank (ADB), COVID-19 pandemic has pushed an estimated 75 million to 80 million people in developing Asia into extreme poverty as compared ..

Month: Current Affairs - August, 2021

India-ADB: USD 500 million loan agreement signed for Bengaluru Metro

On August 19, 2021 India has signed a USD 500 million loans agreement with the Asian Development Bank (ADB) in order to expand metro rail network in Bengaluru. Highlights Metro Rail Network in Bengaluru will be expanded with the construction ..

Month: Current Affairs - August, 2021

India’s economic growth downgraded to 10% by ADB

The Asian Development Bank has downgraded India’s economic growth forecast for the current financial year to 10 % from 11% that it had previously projected in the month of April. This downgrade was done taking into account the adverse impact ..

Month: Current Affairs - July, 2021