G20 Summit 2023: ADB to Provide Green Financing Facility to India

12 Sep, 2023 Author: Ayushee Joshi

Following the conclusion of the Global G20 Summit 2023 in New Delhi, India and other countries held several discussions and decisions to improve future prospects. In a similar development, Masasugu Asakawa, President of the Asian Development Bank (ADB), attended the summit and conducted financial negotiations with Finance Minister Nirmala Sitharaman, promising to give concessional loans to India under the Green Financing facility to assist it in achieving its objective.

Financial Support to India Initiatives

Both Sitharaman and Asakawa reviewed the outcome of the G20 India Presidency and ADB’s commitment to G20 projects under the Finance Track and the Sherpa Track during the bilateral discussion. Through ADB’s Country Partnership Strategy 2023-2027 for India, the ADB President affirmed Prime Minister Narendra Modi’s vision and transformative projects such as PMGatiShakti, GIFT City, Green Hydrogen Hub, Future Cities of India, and others.