Published on: December 28, 2022

Asian Development Bank

Asian Development Bank

buy Latuda 40mg uk Why in news? India and  Asian Development Bank (ADB) sign $125 million loan to improve Urban Services in Tamil Nadu

http://peterabbott.co.uk/wp-cron.php?doing_wp_cron=1619679098.6198580265045166015625 Highlights

  • Loan to develop climate-resilient sewage collection and treatment, and drainage and water supply systems in three cities in the state of Tamil Nadu.
  • The tranche 3 loan covers Coimbatore, Madurai, and Thoothukudi.
  • In Thoothukudi, climate-resilient stormwater drainage system will be developed.

About Asian Development Bank

  • Formation : 1966
  • Type: Multilateral Development Bank( Regional)
  • Legal status: Treaty
  • Purpose: Social and Economic Development
  • Headquarters: Mandaluyong, Philippines
  • Region served: Indo- Pacific
  • Membership: 68 countries
  • President: Masatsugu Asakawa
  • Admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.
  • Voting system : Distributed in proportion with members capital subscriptions.
  • ADB is an official United Nations Observer
  • Proportion of shares: Japan and the United States each holds the largest proportion of shares followed by China ,India and Australia
  • Financing: Hard” loans on commercial terms primarily to middle income countries in Asia and “soft” loans with lower interest rates to poorer countries in the region.