FM urges ADB to double annual lending cap to $20bn

Posted on May 5 2014 - 12:17am by IBC News

New Delhi, May 4 Union Finance Minister P Chidambaram today urged the Asian Development Bank to increase its annual lending capacity to USD 20 billion in the next ten years.

Speaking at the 47th Annual Meeting of ADB Board of Governors in Astana (Kazakhstan), Chidambaram said the development needs of the member countries is large and growing, an official statement said.