Finance Minister Nirmala Sitharaman on Tuesday underlined India’s upmost significance in the Asian Development Bank (ADB)’s sovereign and non-sovereign operations during her bilateral meeting with the ADB president Masatsugu Asakawa and also expressed support to the ADB’s innovative financing mechanisms to enhance the lending capacity of the bank.
The Minister is leading an Indian delegation of officials from the Department of Economic Affairs, Ministry of Finance, to the 56th annual general meeting of the board of directors of the ADB in Incheon, South Korea from 2-5 May, 2023. While advising ADB to introspect and assess how the bank can effectively support developing member countries, Sitharaman also sought support for India through more concessional climate finance as India’s economic and developmental progress can have huge positive impact regionally and globally.
