Friday 19 June 2015

Asian Development Bank (ADB)

Why in news?
The Asian Development Bank (ADB) will increase lending to India by a third—from nearly $3 billion a year to $4 billion a year—during the three years ending 2018.

Why this move?
Because of India’s strong repayment record and the bank’s need to streamline its lending following the emergence of newer bodies such as the Asian Infrastructure Investment Bank (AIIB).

About ADB

Current President is - Takehiko Nakao

[Source: ADB Website, WSJ LiveMint, Infographics (for images)]


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