ADB to raise funds from domestic market by fiscal 2009

New Delhi, Dec 6 (UNI) Asian Development Bank (ADB) today said it will raise funds from India's domestic market by fiscal 2009 to invest in the country itself.

''We will raise funds, primarily through bonds, as soon as the market conditions are right,'' ADB Managing Director General Rajat Nag told reporters on sidelines of fourth International Financial Education Summit here.

The fund will be redirected for investment in the country itself, he added without the disclosing the quantum to be raised.

However, this fund will be additional to bank's lending of nine billion dollar, he added.

ADB has said it will lend three billion dollars annually over the next three years for the development of the country's infrastructure sector.

UNI