ADB says to raise annual lending to India to $2 bln
Date: 04-Oct-02
Country: PHILIPPINES
The Manila-based bank said the increase would be used to fund infrastructure projects to reduce poverty in the country.
These projects include those for renewable energy, power and gas and the construction of railways, road and inland waterways.
The ADB said there was a significant reduction in poverty in India during the past decade of high economic growth. It said poverty incidence declined from 36 percent to 26 percent of total population.
"However, with a quarter of the population still remaining poor, poverty reduction is a high priority for the government and for the ADB," it added.
