ADB sets up $2 billion aid for infrastructure projects in India
By Our Banking Bureau | 21 Mar 2003
Chennai: Asian Development Bank (ADB) will step up investment in the infrastructure sector in India with its lending almost doubling to $2 billion during 2003-04. It will also look at new sectors such as inland water transport and agro-processing for assistance.
The details of the assistance and the projects it will lend to will be finalised shortly, says Albab Akanda, head, infrastructure, ADB, India.
Apart from the ongoing projects on the roads sector, ADB is looking at three inland water transport projects and a decision on which project to assist would be taken shortly, Akanda adds. The bank's assistance to this sector is expected to be about $200 million. The bank also hopes to increase its attention on the Northeast during the coming year.
Akanda says ADB is also looking at a clean fuel project in Kolkata. The bank's three focus states are Madhya Pradesh, Kerala and Gujarat, while it has programmes in other states like Karnataka.