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October 5, 2002
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Saturday
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Rajab 27, 1423
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ADB lending
MANILA, Oct 4: The Asian Development Bank (ADB) said on Friday it will lend about two billion dollars to India and $1.18 billion to Bangladesh in the next three years.
This would be an increase from the $1.5 billion the ADB had originally programmed to lend to India from 2003 to 2005, the bank said in a statement from its headquarters in the Philippine capital.
The increase in lending to India will go to projects in renewable energy, power and gas distribution and transport including railways, roads and waterways.
Additional loans will also go to projects in resource management, urban infrastructure and financing for the rural areas and small and medium enterprises, the bank said.—AFP
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