‘Build green & inclusive cities’
ADB is scaling up climate financing and will back India’s goal of developing green, inclusive cities.
New Delhi: The Asian Development Bank expects India’s economy, which has shown resilience to global economic headwinds, to grow at 7% in the current financial year. But the multilateral agency may lower its growth forecast for FY24 from 7.2% made earlier, ADB President Masatsugu Asakawa said. He said ADB is scaling up climate financing and will back India’s goal of developing green, inclusive cities. On restoring global supply chains, Asakawa said the solution lay in a rules-based international trading system, open markets and more discipline on export restrictions. India should capitalize on its large working-age population even as it starts to prepare for an older population, he said in an email interview. Edited excerpts: