India will receive $9.2 billion Asian Development Bank loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said on Wednesday.
"Disbursement of ADB loans for different projects and programmes in India has increased from $400 million in 2004 and our aim is to achieve the target of $1.62 billion in 2008," Chidambaram said while addressing the members of the Consultative Committee of Parliament attached to his ministry.
Pointing out that India was looking for further engagement with the ADB, he said during 2008-10, multilateral lending agency is expected to provide a total assistance of $9.2 billion for projects in energy, transport, urban development, agriculture and financial sectors.
He further said that agriculture was included in the ADB's country strategy in 2003 and will receive an assistance of $850 million during 2008-10.
As on December 31, 2007, the minister said, "we have 100 loan agreements, amounting to $14.47 billion in sectors of energy, financial, agriculture, environment and natural resources, transport and communication, urban development and industry and non-fuel minerals."
Infrastructure development, he told the members of the committee, has remained the core focus of ADB assistance to India.
Disbursement ratio of ADB loan, the minister said, has "increased exponentially to about 25 per cent in 2007 and the country wide coverage of the ADB portfolio has speared" during the past few years.