ADB will give loan to India at concessional interest rate through Green Financing Facility, G20 Chairmanship praised

ADB President Masasugu Asakawa, who came to Delhi to attend the G20 summit, spoke to Finance Minister Nirmala Sitharaman. During this, he said that he would give loans at concessional interest rates under the Green Financing Facility to achieve the vision of India. He also praised India's agenda of One Earth One Family One Future in G20.

Sep 11, 2023 - 11:27
 0
ADB will give loan to India at concessional interest rate through Green Financing Facility, G20 Chairmanship praised

Asian Development Bank assured India that it will provide loans at concessional interest rates under the Green Financing Facility to achieve its vision. ADB President Masasugu Asakawa, who came to Delhi to participate in the G20 summit, also talked to Finance Minister Nirmala Sitharaman.

In this meeting, the results of G20 under the chairmanship of India were discussed. Also, there was a discussion about ADB's contribution to the Finance Trek and Sherpa Trek under the workstream of G20.

Posting on social media platform X (Pre-Twitter), ADB Chief Masasugu Asakawa praised India's "One Earth, One Family, One Future" agenda at the G20.

Along with this, he further said that the objective of ADB is to create a climate bank for Asia. A Green Financing Facility is being created by ADB with a view to providing finance to India at concessional rates.

Along with this, he supported PM Modi's vision for India under the ADB Country Partnership Strategy 2023-2027. In this, PM Gati Shakti, Green Hydrogen Hub, etc. were supported.

India is the major and fourth largest shareholder in ADB. By December 2022, ADB has promised to provide 605 public sector loans, grants, and technical support worth $52.6 billion in India. With this, $8 billion has been invested in the private sector.

Muskan Kumawat Journalist & Writer