Success in my Habit

Wednesday, January 25, 2012

Asian Development Bank sets its annual investment plan for India at $2 bn till 2014

Asian Development Bank said it plans to investment about $2 billion every year in India's infrastructure space between 2012 and 2014 although the country demands much more than this.

ADB has kept its annual infrastructure financing for India unchanged as its faces fund constraints, its managing director general Rajat Nag said. The Manila-based institution had invested about $2 billion each in 2010 and 2011.

The country will need about $1 trillion investment during the 12th Five Year Plan (2012-2017).

"The size of our investment plan for India is not a reflection of the demand, neither it is a reflection of its performance. It is the supply constraint at our end which compels us to keep the annual plan unchanged at $2 billion," Nag said on Friday at an Indian Chamber of Commerce event in the city.

India is a founding member of ADB and its fifth largest shareholder.

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