ADB Current Affairs - 2020

ADB’s prediction of Asian economy shrinking for the first time since 1960s: Important facts

The prediction of the Manila-based Asian Development Bank says due to pandemic hit the Asian economy is going to shrink for the first time since the early 1960s. It also stated that the period will continue until next year with a downfall in the level of growth as projected before the pandemic. What is the Read More…

ADB approves 3 million US Dollar to India to fight against COVID-19

Asian Development Bank has approved USD 3 million (equivalent to Rs 22 crore) grant to India from the Asia Pacific Disaster Response Fund to support India’s battle against COVID-19. Key highlights The grant is financed by the Japanese government. It will be used to seek thermal scanners, enhancement of disease surveillance and early detection, contact Read More…

ADB appoints Ashok Lavasa as new Vice President

On July 15, 2020, Ashok Lavasa was appointed as the vice president of Asian Development Bank. Highlights Ashok Lavasa, a 1980 batch retired IAS officer. He was serving as the Election Commissioner and is next in line to become Chief Election Commissioner. He has now been appointed as Vice President of ADB for Public-Private Partnerships Read More…

750 million USD loan approved by AIIB to India

On June 17, 2020, the Asian Infrastructure Investment Bank (AIIB) approved 750 million USD loan to India. The fund granted is to be used by the GoI to strengthen battle against the impact of COVID-19 on the poor and vulnerable. Highlights The aid was cofinanced by the Asian Development Bank (ADB). The funds are to Read More…

India and ADB sign 177 million USD to upgrade Maharashtra State Highways

On May 28, 2020, the Government of India and the Asian Development Bank signed an agreement to construct state highways in Maharashtra. Highlights The funds received from the bank are to be used by the State Government of Maharashtra to improve road projects. The projects will be used to increase connectivity between urban and rural Read More…