Asian Development Bank (ADB) : Approved USD 200 Million Additional Financing
The Asian Development Bank (ADB) recently approved USD 200 million additional financing for the Rajasthan secondary towns development sector project.
- Asian Development Bank (ADB) is a multilateral development bank established on 19th December 1966.
- Its primary mission is to “foster economic growth and cooperation” among countries in the Asia-Pacific Region.
- ADB assists members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
- It also provides financing to certain private sector projects as well as public-private partnerships.
- The ADB regularly facilitates policy dialogues and provides advisory services.
- They also useco-financing operations that tap official, commercial, and export credit sources while providing assistance.
- Headquarters: Manila, Philippines.
- ADB has 68 members—of which 49 are from within Asia and the Pacific and 19 outside.