India to get $9.2b ADB fund during 2008-10

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NEW DELHI, June 19 (PTI): India will receive USD 9.2 billion Asian Development Bank (ADB) loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said yesterday.

"Disbursement of ADB loans for different projects and programmes in India has increased from USD 400 million in 2004 and our aim is to achieve the target of USD 1.62 billion in 2008," Chidambaram said while addressing the members of the consultative committee of parliament attached to his ministry.

Pointing out that India was looking for further engagement with the ADB, he said during 2008-10, multilateral lending agency is expected to provide a total assistance of USD 9.2 billion for projects in energy, transport, urban development, agriculture and financial sectors.