ADB announces increased funding to India

Q.  Multi-lateral funding agency Asian Development Bank (ADB) announced that it will increase annual funding to India to up to __________.
- Published on 29 Nov 17

a. $4 billion
b. $2.7 Billion
c. $3 Billion
d. $5 Billion

ANSWER: $4 billion
 
ADB announces increased funding to IndiaMulti-lateral funding agency Asian Development Bank (ADB) announced that it increase annual funding to India to up to $4 billion from existing $2.7 billion from next year to accelerate inclusive economic transformation.

As part of ADB's Country Partnership Strategy 2018-22, the multi-lateral funding agency will provide loans up to $4 billion on annual basis including non-sovereign or private debt during 2018-22.

Cumulatively, India which is the largest recipient of ADB will get about $20 billion over a period of 5 years.

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