Should raise investment from 0.5% of GDP to 2-3%
Asian Development Bank (ADB), established in 1966 in Manila, is dedicated to reducing poverty int he Asia-Pacific region through inclusive economic growth, environmentally sustainable development and regional integration. ADB is owned by 67 members - 48 from the region. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. In 2017, ADB financing totaled $32.2 billion, including $11.9 billion in co-financing.
INDIA NEEDS $230 BN
Although India has improved its global ranking in the quality of infrastructure index from 87 to 68 during 2014-16, infrastructure continues to be a major bottleneck for the country. Urban areas are the growth engines for the country’s economy and contribute about 63% of the country’s GDP, which will potentially rise to 75% by 2030. However, India’s fast expanding towns and cities face infrastructure deficiencies, weak service delivery mechanisms, inadequate finances and poor local governance.
This story is from the August 2018 edition of Banking Frontiers.
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This story is from the August 2018 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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