~ Maju Varghese Every year, India pays an enormous amount of money as commitment charges to the multilateral institutions for not utilising the loans sanctioned by them. Investopedia defines commitment charges as the fee charged by the lender to a borrower for an unused or un-disbursed loan since it has set aside the funds for the …
Continue reading India paid over 600 crores between 2009-2015 to the IFIs for not using their loans
The Asian Development Bank was conceived in the early 1960s as a financial institution that would foster economic growth and cooperation in Asia. India was a founding member of the Asian Development Bank (ADB) and is now the fourth-largest shareholder. ADB commenced operations in India in 1986 and has approved 240 loans totalling $36.8 billion. Asian …
Continue reading 50 years of ADB – The Indian story of resistance
After a Judge declared World Bank immunity cases “wrongly decided,” the communities affected by the Tata Mundra project approach US court to review “absolute immunity” doctrine Communities harmed by Tata Mundra coal power plant in India continue to seek justice from World Bank Group’s International Finance Corporation July 26, 2017, Washington, D.C., and Mundra: After …
~ Joe Athialy With Subhash Chandra Garg assuming charge as secretary of the Department of Economic Affairs (DEA) in the Finance Ministry, the position of the Indian Executive Director (ED) at the World Bank has fallen vacant. The 1983-batch IAS officer of Rajasthan cadre, Garg was the ED at the World Bank from Nov 2014 until June 2017. …
Continue reading Appointment of a new Indian ED at the World Bank raises a few questions
Netindia123.com: Medha Patkar demands more transparency in ADB projects (May 9, 2017) Webindia123.com: Medha Patkar demands more transparency in ADB projects (May 9, 2017) The Statesman: Call for nationwide protests against ADB's projects in India (May 8, 2017) Business Standard: Medha Patkar demands more transparency in ADB projects (May 8, 2017) Eenadu: Medha Patkar demands more transparency in ADB …
(May 8, 2017) New Delhi: People across India united to resist anti-people policies of ADB and other IFIs English हिंदी (May 7, 2017) Bhubaneswar: English ଓଡ଼ିଆ ଭାଷା (07 May 2017) Jhabua: Protest in …
By Joe Athialy After the storm of demonetisation, which unsettled the economy back home, India is hosting the 2nd annual meeting of New Development Bank (NDB) from March 31 – April 2, 2017. NDB is the financial arm of BRICS – a grouping of emerging economies Brazil, Russia, India, China and South Africa, formed in …
