Sinha leaves for ADB meet

By Our Special Correspondent

NEW DELHI, MAY 5. The Union Finance Minister, Mr. Yashwant Sinha, today left for the 33rd annual meeting of the Asian Development Bank (ADB) at Chang Mai in Thailand from May 7.

Mr. Sinha had last month visited Washington to attend the annual meetings of the International Monetary Fund and the World Bank.

Apart from the annual meeting, the Finance Minister would also have a meeting with businessmen from Japan and other countries and address a round table meeting of institutional investors, financiers and policy-makers.

The Secretary, Economic Affairs in the Finance Ministry, Mr. E.A.S. Sarma, will make a country presentation during the meeting on measures taken by India to face the east Asian financial crisis and lessons to be learnt.

India is a founder member of the ADB and represents the constituency comprising Bangladesh, Bhutan, Lao and Tajikistan, apart from India, with a total voting power of 7.98 per cent.

India started borrowing from the Bank in 1986 with a modest loan of $ 250 millions. Over the years, the borrowing has steadily increased and the cumulative loan now stands at $ 7.8 billions.

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Section  : National
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