Reiterating its commitment to help to build more sustainable infrastructure projects across the country, the Asian Development Bank has recently reaffirmed that financing to the tune of $10-12 billion will be made in the next two years, President, ADB, Takehiko Nakao said and also praised India's strong economic performance in the face of weak global growth and turmoil in commodity and financial markets. The ADB believes that India is likely to remain the fastest-growing large economy this year given the prudent macroeconomic management and the government's efforts to improve the investment climate. The recent Budget also balances the urgent requirements for infrastructure investments with the need to reduce the fiscal deficit and the bank expects India's economic growth will continue to exceed 7% in fiscal year 2016-17. The ADB president commended the success of the country's reformist measures, including the liberalisation of foreign direct investment rules, cuts in subsidies, and the 'Make in India' campaign. To support the government's commitment to build more infrastructure, the ADB will increase its lending for the next three till 2018, he insisted.
