India Urges Asian Development Bank (ADB) to Scale Up Lending and Implement Reforms

Key facts

• Minister of State for Finance Pankaj Chaudhary addressed the annual board of governors meeting of the Asian Development Bank (ADB).
• India urged the ADB to scale up its lending capacity to address global challenges including energy insecurity, food shortages, rising debt levels, and supply chain disruptions.
• The Minister proposed capital expansion measures, such as hybrid and callable capital, to ensure exposure limits do not constrain the development financing of larger Developing Member Countries (DMCs).
• India called for reforms in Multilateral Development Banks (MDBs) to deliver on the billions to trillions agenda by increasing risk appetite and improving balance sheet utilisation.
• The government underscored the role of the ADB as a knowledge partner in supporting digital public infrastructure and mobilising private sector participation for climate transition.