Asian Development Bank (ADB) will provide $7-9 billion loan to India over the next three years. Besides, it will also provide about $30 million for technical assistance grants, especially for building institutions and capacity at the state as well as the local levels. During a meeting with Prime Minister Narendra Modi and Finance Minister Arun Jaitley, ADB President Takehiko Nakao emphasised that ADB will help India accelerate infrastructure development, boost manufacturing, improve skills of the young people to enhance their employability, expand trade through regional cooperation, and promote private sector activities.
In 2014, ADB is providing loans amounting to $1.2 billion to projects under the framework of the South Asian Association for Regional Cooperation (SAARC).
These include loans and technical assistance to support subregional roads, hydropower generation, cross-border power lines, and trade facilitation.
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