Multilateral lending agency Asian Development Bank (ADB) on Friday said it supports India’s commitment to build more infrastructure and will increase its lending to the country to $10-12 billion for a three-year period till 2018.
ADB President Takehiko Nakao met Finance Minister Arun Jaitley and praised India’s strong economic performance in the face of weak global growth and turmoil in commodity and financial markets, the lending agency said in a statement.
“I believe India is likely to remain the fastest-growing large economy this year given the prudent macroeconomic management and the government’s efforts to improve the investment climate,” Nakao said.