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Saturday, September 18, 1999
ADB likely to sanction $625 m by year-end
Geeta Nair
Pune, Sept 17: Loans sanctioned by the Asian Development Bank to projects in India, which were held back due to the nuclear explosion and the general elections, is expected to resume in the last quarter of 1999. Projects worth $625 million are expected to be approved by the bank's board.The lending for the next few years is going to be in the region of $ one billion to $1.5 billion. Madhya Pradesh and Karnataka would be the banks focal states for loans and technical assistance operations worth $ 425 million. A third state is likely to be added to this list. At the national level the bank would be supporting power sector reforms through its proposed loan to Power Finance Corporations. India is among the six largest borrowers and is placed fourth after Indonesia, Pakistan and Pacific region countries with borrowings of $7.4 billion. However, India's share of business generated through ADB projects in members countries is low. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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