ADB Explained: $230 Million Chennai Water and Sewerage Loan
Why in the news
The Government of India signed a $230 million loan with the Asian Development Bank to upgrade water supply and wastewater systems in Chennai.
Key facts
- Fits AMRUT 2.0 and the Urban Challenge Fund; the scheme is titled Chennai Climate-Resilient Water Security and Sewerage Project.
About the ADB
- A regional multilateral development bank for Asia and the Pacific; patterned on the World Bank with weighted voting by capital subscription.
ADB fact file
| Item | Detail |
|---|---|
| Established | 19 Dec 1966 |
| Headquarters | Manila |
| President | Masato Kanda |
| Members | 69 (49 regional, 20 non-regional) |
| Concessional window | Asian Development Fund |
| India | Founding member, big borrower |
Comparison
- AIIB: Beijing, 2016; NDB: Shanghai, equal founder voting.
Exam angle
- Headquarters: Manila; President: Masato Kanda.