Asian Development Bank will increase the annual lending provided to India by up to $4 billion for a period of five years from 2018 and 2022 for a speedy inclusive economic transformation towards upper middle-income status.
The announcement was made public at new ADB Country Partnership Strategy for 2018- 2022.
During this 5 years time period, ADB will focus on three main areas which are:
- Production of more jobs with good payments and raising economic competitiveness.
- Better reach to infrastructure and services.
- Addressing climate change and improving climate resilience.
The major challenges to be faced in the programme will be to reduce the gap between advanced and lagging regions such as poor areas. Infrastructure is also another major bottleneck with an estimated investment shortfall of $230 billion a year.