Incheon / New Delhi, May 02 (Hindustan Times). Union Finance Minister Nirmala Sitharaman held talks on bilateral issues with Asian Development Bank (ADB) President Masatsugu Asakawa in Incheon on Tuesday. The talks between Sitharaman and Asakawa took place on the sidelines of the 56th annual meeting of ADB.
During the meeting, the Finance Minister urged the ADB President to support India with more concessional climate finance. He said this could have a huge positive impact on India’s economic and developmental progress regionally and globally.
On the other hand, Asian Development Bank (ADB) President Masatsugu Asakawa said that the bank will consider the option of raising funds by issuing rupee denominated bonds. Asakawa said that we are willing to promote financing in local currency to avoid the risk of foreign exchange fluctuations.
It is noteworthy that Finance Minister Nirmala Sitharaman is on a four-day official visit to South Korea to attend the 56th Annual Meeting of ADB. Apart from attending the 56th Annual General Meeting of the Governing Board of ADB, the Finance Minister will also address investors and attend bilateral meetings. Apart from this, she will also hold a meeting with global economists and finance ministers of ADB member countries.
