ADB to step up lending to India

Hyderabad, May 2 (UNI) The Asian Development Bank (ADB), which is holding its 39th Annual meeting of the Board of Governors from tomorrow, plans to scale up lending levels to India from an average of around 1.24 billion USD in recent years to around 2.65 billion USD by 2008, according to the latest India Country Strategy and Programme Update.

ADB's total lending assistance to India till 2005 amounts to about 15.4 billion USD, it said.

India, a founder-member of ADB, is the bank's fourth biggest shareholder (after Japan, the United States and China) and is hosting the meet for the second time since 1990 UNI SM GM 1202