Question: Who is the President of Asian development Bank (ADB)currently?
(a) Christine Lagarde
(b) Takehiko Nakao
(c) David R. Malpass
(d) Xiangmin Liu
Answer: (b)
Related facts:
- On 29th August, 2019, Asian Development Bank (ADB) President Takehiko Nakao met India’s Prime Minister Narendra Modi in New Delhi.
- On this occasion Nakao committed over $12 billion lending to India over the next 3 years (2020-22).
- This debt is being offered by ADB in support of new flagship initiatives, averaging annually over $3 billion for sovereign operations and $1 billion for non sovereign operation.
- ADB President also met Finance and Corporate Affairs Minister Nirmala Sitharaman, Nitin Gadkari, Minister of Road Transport and Highways and Micro, Small, and Medium Enterprises (MSME) and others.
- Nakao also announced a $100 million investment in the National Investment and Infrastructure Fund (NIIF).
Project focus by ADB:
- ADB’s sovereign and nonsovereign operations will focus on the government’s following major initiatives:
- Jal Jeevan Mission: extending drinking water for all, water conservation and more crop per drop
- East Coast Economic Corridor: program promoting competitiveness of micro, small, and medium-sized enterprises (MSME) by connecting to global value chains.
- Supporting national road safety programs.
- Constructing a rapid rail transit system to connect Delhi with neighboring satellite cities, starting from Delhi to Meerut.
- Assistance in secondary education and the universal health system.
Links:
https://www.thehindubusinessline.com/economy/adb-willing-to-lend-over-12-billion-to-india-over-the-next-three-years/article29291266.ece
https://www.financialexpress.com/economy/asian-development-bank-president-nakao-calls-on-pm-modi-pledges-usd-12-billion-support-to-govts-initiatives/1690524/