ADB allocates $ 2.5 million for advanced biofuel development in India

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Multilateral lending agency Asian Development Bank (ADB) has approved a $ 2.5 million (about Rs 18 crore) technical assistance to support advanced biofuel development in India. The grant is funded from the Asia Clean Energy Fund, financed by the Government of Japan under the Clean Energy Financing Partnership Facility, and the Republic of Korea’s e-Asia […]

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Asian Development Bank signs a $ 346 million loan pact for power supply project in rural Maharashtra

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Manila-based Asian Development Bank (ADB) and the Government of India signed a $ 346 million loan pact to help provide efficient and reliable power supply to rural agriculture customers of Maharashtra. The signatories to the loan agreement are Maharashtra Rural High Voltage Distribution System (HVDS), Department of Economic Affairs in the Ministry of Finance, and […]

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Developing Asia’s economic growth to contract in 2020; China to grow, India seen shrinking – ADB

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Economies across developing Asia will contract this year for the first time in nearly six decades but recovery will resume next year, as the region starts to emerge from the economic devastation caused by the coronavirus disease (COVID-19) pandemic, according to a report released by the Asian Development Bank (ADB).  The Asian Development Outlook (ADO) 2020 Update forecasts -0.7% gross domestic product (GDP) growth for developing Asia this year — marking its first negative economic growth since the early 1960s. Growth will […]

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COVID-19’s global economic impact could reach $8.8 trillion, says ADB

The Asian Development Bank (ADB) doubled its estimate of the impact of the coronavirus pandemic on global economy, saying it expected economic losses of between i $5.8 trillion to $8.8 trillion, or 6.4% to 9.7% of global gross domestic product (GDP). Economies with domestic outbreaks and strict lockdowns will be hardest hit as domestic demand […]

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ADB triples COVID-19 response package to $20 billion

The Asian Development Bank (ADB) tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 billion in resources to help ADB’s developing […]

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India’s growth to slow to 4% in FY2020, recover to 6.2% in FY2021 – ADB

The Asian Development Bank (ADB) projects India’s gross domestic product (GDP) will slow to 4.0% in fiscal year (FY) 2020 ending on 31 March 2021 due to a weak global environment and continued efforts to contain the novel coronavirus (COVID-19) outbreak in the country. The forecast assumes that the pandemic dissipates and full economic activity […]

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Developing Asia growth to fall in 2020 on COVID-19 impact; China at 2.3%, India at 4%, says ADB

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Regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in 2021, according to the Asian Development Outlook (ADO) 2020, the Asian Development Bank’s (ADB) annual flagship economic publication. The report forecasts regional growth of 2.2% in 2020, a downward revision of 3.3 […]

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ADB trims growth forecasts as Asia’s biggest economies slow; India lowered to 5.1%

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The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product […]

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IMF and ADB are hopeful of India but predict a synchronised slowdown by 70% of global economy

The performance of Indian economy in terms of standard economic parameters like GDP, consumption, investment, per capita income, inflation, current account deficit and fiscal deficit can be termed as reasonably good specifically while comparing with the result sheets of other economies, advanced or developing. There are, however, concerns on the sustainability of these indices in […]

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