ADB to lend India around $12 billion in 2013-17

The Asian Development Bank (ADB) will extend around $12 billion in loans to India over the five years starting 2013, under the country partnership programme, ADB country director Hun Kim said on Friday.

Of this, $10 billion will be loans from the public lending window while the remaining $2 billion will come from ADB's private lending arm, he said.

''ADB plans to lend around $10 billion as public lending and another $2 billion through its private lending programme,'' Kim said.

ADB president Haruhiko Kuroda, who is also in Delhi in connection with the preparations for ADB's annual meeting, meanwhile, met finance minister P Chidambaram.

Speaking on the sidelines of the meeting, Kuroda said the government's recently announced fiscal consolidation roadmap will help the country get back to high economic growth rate of 8-9 per cent in the coming years.

"The government is, I think, taking quite appropriate fiscal consolidation efforts and measures. Indian economy is likely to recover in 2013 fiscal year," he said.