Asian Development Bank on Wednesday said it will provide up to 7-9 billion loan to the country over the next three years. "ADB's operations for India will maintain high level of lending, amounting to a total of $ 7-9 billion over the next three years," ADB president Takehiko Nakao said here.
Besides, the multilateral funding agency will provide around $30 million for technical assistance grants, especially for building institutions and capacity at the state as well as the local levels, he said.
Nakao, who is on two-day official visit, met Prime Minister Narendra Modi and Finance Minister Arun Jaitley and discussed macroeconomic situation and ADB's funding programme to boost infrastructure sector.
During the meeting, he emphasised that ADB will help India accelerate infrastructure development, boost manufacturing, improve skills of the young people to enhance their employability, expand trade through regional cooperation, and promote private sector activities. Stressing that India has a potential to grow at 10 per cent, Nakao said its economy is expected to expand at 5.5 per cent in the current fiscal.