Jammu and Kashmir News Report
Buisness

Sitharaman tells the ADB chairman that India is still a crucial partner

During a Tuesday bilateral meeting in Incheon with Asian Development Bank (ADB) president Masatsugu Asakawa, Union Finance Minister Nirmala Sitharaman, who is currently on a four-day trip to South Korea, emphasised that India continues to be the most important nation for the lending agency's sovereign and non-sovereign operations.
According to official sources, the Union Minister, who had been to Incheon earlier in the day to attend the ADB annual general meeting, visited Asakawa there.
Sitharaman also offered ADB her backing for creative financing techniques that would increase the bank's ability to provide loans.
She urged ADB to reflect and consider how the bank might best assist its developing member nations.
Given that India's economic and developmental advancements have the potential to have a significant beneficial influence on the region and the world, Sitharaman encouraged Asakawa to help India with more favourable climate funding.
Asakawa reaffirmed ADB's pledge to provide its member nations with $100 billion in climate funding and commended India for supporting the lender's cutting-edge finance facility for climate in Asia and the Pacific.

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