Free Press Journal
  • India uses AIIB to diversify its funding sources

    India has already begun diversifying its funding sources by looking for more financial support from the three year old Asia Infrastructure Investment Bank (AIIB), headquartered in Beijing. Hitherto, it had sought financial aid from bodies like Japan’s ODA, the Asian Development Bank (ADB) and the World Bank and the IFC besides other commercial bands and funds.

  • Asian Development Bank lowers India’s GDP forecast to 6.7%

    New Delhi: The Asian Development Bank (ADB) on Wednesday lowered its Indian GDP forecast for the current financial year to 6.7 per cent citing tepid growth in the first half, demonetisation and transitory challenges posed by implementation of GST.

  • Indore: FIEO hints at launch of int’l flight from city soon

    Indore: Federation of Indian Exports’ Organisation (FIEO), a body of ministry of corporate affairs to promote exports, has hinted at rolling out of international flights from the city soon. Convener of FIEO (Madhya Pradesh and Chhattisgarh), Suber Rampurawala, who recently communicated with airport director Aryama Sanyal and also wrote a letter to her, praising her efforts towards starting international flights from the city, expressed hope in the matter.

  • India on track to grow at 7.4%, developing Asia to improve: ADB

    New Delhi : Asian Development Bank on Thursday retained India’s growth projection at 7.4 per cent for the current financial year even as it raised the forecast for developing Asian region to 5.9 per cent.

  • ADB to lend $175 mn to improve solar transmission

    New Delhi: The ADB will offer $175 million loan to support construction of high voltage transmission systems to evacuate power from new mega solar parks to the inter-state grid and improve reliability of the national grid.   The Manila-headquartered Asian Development Bank (ADB) and the government  signed an agreement to this effect.

  • ADB approves $175 mn loan to Power Grid Corp

    New Delhi: Asian Development Bank (ADB) has approved USD 175 million loan to Power Grid Corporation to expand its solar energy transmission network in the country. The project funding will improve the capacity and efficiency of interstate transmission networks, particularly in transmitting the electricity generated from new solar parks to the national grid, an ADB statement said.

  • After RBI, ADB too lowers India’s GDP forecast to 7 per cent

    New Delhi : Days after RBI lowered the GDP forecast by half a per cent to 7.1, multilateral funding agency ADB too lowered it to 7 per cent for the current fiscal due to the impact of demonetisation on economic activities.

  • ‘Urbanisation linked to growth’

    New Delhi : Union Finance Minister Arun Jaitley on Thursday stressed on India’s need to urbanise rapidly in the next two decades in line with its present development in order to relieve the pressure on agriculture, reports IANS.

  • Solid demand, milestone reforms to sustain India’s growth: ADB

    New Delhi : India’s economy will remain on a strong growth path this fiscal and clock a growth of 7.4 per cent aided by implementation of key structural reforms, robust consumer demand and higher agricultural output driven by a good monsoon, predicted an ADB study.

  • India and ADB sign $100 mn loan pact on Cauvery basin development

    New Delhi : India and the Asian Development Bank (ADB) on Thursday signed a $100 million loan agreement for strengthening irrigation, drainage and water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu, an official said on Thursday.

  • asian development bank ADB

    Asian Development Bank (ADB) to lend $1 bn to PowerGrid for expansion

    New Delhi: The Asian Development Bank (ADB) on Thursday said it would lend $1 billion to state-run Power Grid Corporation for expanding its transmission capacity in the country. “ADB is to provide a $500 million government-backed loan and a further $500 million in non-sovereign lending to India’s national transmission company, Power Grid Corporation of India Ltd,” ADB said in a statement here.

  • Asian Development Bank lends USD 2 bn to India for road construction in 5 states

    New Delhi : Multi-lateral lending agency Asian Development Bank (ADB) today said it will provide loan worth USD 2 billion to construct or upgrade over 31,000 kms of rural roads in five states to lend support to Prime Minister’s Gram Sadak Yojana (PMGSY). “ADB is providing about USD 2 billion loans through its three long-term investment programmes to build and improve rural roads in five states of Chhattisgarh, Madhya Pradesh, West Bengal,

  • ADB: India To Grow At 7.8% In 2015-16; Surpass China

    New Delhi : India is all set to overtake China’s growth rate by clocking 7.8 per cent GDP in 2015-16 and 8.2 per cent during the following fiscal on the back of structural reforms and government’s “pro-investment” attitude, Asian Development Bank said.

  • Narendra Modi

    Modi urges ADB chief to take up railways sector in India

    New Delhi: Prime Minister Narendra Modi urged Asian Development Bank (ADB) president Takehiko Nakao that the institution should take up the railways sector in India, and undertake one project that will create a “visible impact”, an official statement said here.