Sitharaman suggested to Asakawa that the ADB may attune its priorities to government’s vision for initiatives like energy transition, PM GatiShakti, logistics policy…reports Asian Lite News
Finance Minister Nirmala Sitharaman on Tuesday met Asian Development Bank (ADB) President Masatsugu Asakawa, and acknowledged the swift response and support provided by the institution to all its developing member countries, including India during the Covid-19 pandemic.
She also appreciated the ADB’s support to India’s G20 Presidency priorities.
Asakawa is on his maiden visit to India after taking over as ADB’s President in 2020.
Sitharaman encouraged the ADB to complement India’s efforts towards infrastructure creation, livelihood generation, green and sustainable growth as well as boosting private investment, through its financial as well as knowledge resources.
Asakawa congratulated the Finance Minister for Indian economy’s post pandemic recovery and stated that despite the disruptions caused by the pandemic, India remains the fastest growing major economy with expected 7 per cent growth in fiscal year 2022-23.
Sitharaman suggested to Asakawa that the ADB may attune its priorities to government’s vision for initiatives like energy transition, PM GatiShakti, logistics policy, industrial corridors, climate change adaptation, circular economy, health, Mission Karmayogi, and Skill India programme.
The ADB President complimented Sitharaman for India’s G20 presidency and conveyed ADB’s support for various initiatives India has taken under this.
He welcomed Sitharaman’s prioritisation of green growth in the budget for 2023-2024.
He also appreciated the government’s vision for mission LiFE connecting individuals to the cause of environment.
The Finance Minister stressed on laying the foundation for India@100. In this light, the two leaders also discussed India-ADB Country Partnership Strategy 2023-2027, which is being finalised.
Called on PM Modi
ADB President also met Prime Minister Narendra Modi on Tuesday and discussed India’s various development priorities.
After the meeting with PM Modi, ADB said in a release that president Asakawa conveyed its intention to provide USD 20-25 billion in support over the next five years to advance the country’s aspirations for fast, inclusive, and green growth. PM Modi and ADB’s Asakawa discussed a range of issues, including the bank’s support of India’s infrastructure and social development, and climate actions.
Asakawa congratulated PM Modi on India’s assumption of the G20 Presidency and reaffirmed the bank’s support for the G20 agenda.
“India and ADB have had a long and valuable partnership, and we look forward to enhancing this to tackle the region’s complex development challenges,” Asakawa said in the release.
“ADB will provide multifaceted support for India’s key priorities, including the important infrastructure push under the PM’s Gati Shakti (National Master Plan for multimodal connectivity) initiative, building future cities, mobilizing domestic resources, and strengthening basic services in disadvantaged districts,” he added.
Further, the ADB said it will focus on supporting the decarbonization of transport and the clean energy transition.
Congratulating PM Modi for effectively combating the Covid-19 pandemic and ensuring quick post-pandemic recovery, Asakawa said despite the disruptions caused by the pandemic, India remains the fastest-growing major economy with an expected 7 per cent growth in the financial year 2022-23. (IANS/ANI)
