Finance: Finance Minister Nirmala Sitharaman met Asian Development Bank (ADB) President Masatsugu Asakawa on Tuesday. During this meeting, he said that ADB should support India with climate finance at affordable rates as the country’s progress can have a very positive impact at the regional and global level.
Point of support
Sitharaman said during a bilateral meeting with the multilateral funding agency that India is the most important country in all activities of ADB, including government. He also talked about supporting ADB for a unique financing arrangement to increase the lending capacity of the bank. Sitharaman advised ADB to introspect and assess how the bank can effectively support developing countries.
Climate Finance
Ministry of Finance wrote on Twitter, “Finance Minister Nirmala Sitharaman has urged ADB to support India with affordable and affordable climate finance. This is because India’s economic progress can have a very positive impact regionally and globally.” During the meeting, Asakawa reiterated ADB’s commitment to provide $100 billion in climate finance to its member countries.
Finance Facility
Also thanked India for supporting ADB’s unique finance facility for climate in the Asia and Pacific region. Earlier, the ADB President announced the Bank’s latest climate finance program – the Unique Finance Facility for Climate in Asia and the Pacific (IF-CAP)…
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