ADB to lend more for infrastructure projects in India
February 16, 2011
The Asian Development Bank (ADB) will increase its allocation for infrastructure projects in India, irrespective of land acquisition complications. Talking to First Infocentre on the sidelines of a seminar "South East Asia Economic Integration: Infrastructure and Trade Challenges", Rajat M. Nag, managing director-general stated that the lending agency previously "underestimated" land acquisition issues while appraising projects in India as the process is very sensitive. The agency is now giving more time in reviewing the issues with regard to rehabilitation of the project affected as a part of its project appraisal programme.
Nag indicated that while demand for infrastructure was likely to go up, ADB is likely to invest a little over US$2 billion in next fiscal year. In 2010-11, ADB's lending was around US$2 billion in the country, higher than the US$1.5-billion that it allotted to China.
