NDB to invest $100 Million into NIIF Fund of Funds

The New Development Bank (NDB) has announced to invest $100 million into the NIIF Fund of Funds (FoF). Highlights With the NDB’s investment of $100 million, the NIIF FoF has now secured $800 million in commitments. NDB has joined the ..

Month: Current Affairs - February, 2021

Global Economic Prospects Report

The World Bank recently released the Global Economic Prospects report. What are the key findings of the Global Economic Prospects report? According to the report the Indian economy is to contract by 9.6% in 2020-21.  The Indian economy is to ..

Month: Current Affairs - January, 2021

ADB signs 100 million USD loan to boost power supply in Bengaluru

The Asian Development Bank recently signed an agreement of 100 million USD modernize and upgrade the power distribution in Bengaluru city. Key Highlights The 100 million USD loan is to be used to enhance the quality and reliability of electricity ..

Month: Current Affairs - January, 2021

Asia-Pacific Vaccine Access Facility, APVAX

The Asian Development Bank recently launched Asia Pacific Vaccine Access Facility to provide equitable support to the developing countries as they procure and deliver vaccines. The bank has allocated 9 billion USD for the scheme. What is Asia-Pacific Vaccine Access ..

Month: Current Affairs - December, 2020

Asian Development Outlook

The Asian Development Bank recently released the Asian Development Outlook. Under its outlook, the Asian Development Bank projected that Indian economy is to contract by – 8% in the fiscal year 2020-21. Earlier it was estimated by the bank that ..

Month: Current Affairs - December, 2020

West Bengal Public Finance Management Investment Programme: Key Facts

The Government of India and the Asian Development Bank have recently signed an agreement under which the bank will provide 50 million USD of loan. It is a policy-based loan. The loan is to be utilised to improve financial management ..

Month: Current Affairs - December, 2020

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 ..

Month: Current Affairs - December, 2020

Indian PMO secretaries to hold key positions in WTO, World Bank

The Private secretary of Prime Minister Modi Rajeev Topno was recently appointed as the Senior Advisor to the Executive Director of World Bank. Also, a joint secretary at the Prime Minister Office (PMO) was appointed to the World Trade Organization ..

Month: Current Affairs - June, 2020