India today pitched for increase in the capital base of the Asian Development Bank (ADB) to ensure it plays a bigger role in the development of the Asian region.
This was emphasised by Finance Minister Arun Jaitley during a meeting with ADB President Takehiko Nakao.
Jaitley, the statement said, "stressed on the capital increase in the ADB to maintain a leading role in development financing in Asia".
In 2013, ADB witnessed the first increase in its general capital base in 14 years to USD 165 billion.
Nakao is on a visit to India from August 26-28. This is his third visit to India in his capacity as the President.
Jaitley complimented the ADB President for his efforts in pursuing mid term review of strategy 2020 and formulating a well-defined action plan for its implementation (towards achieving overarching goal of Asia and the Pacific free of poverty).
Nakao assured support of the ADB to partner India's development strategies and aspirations through financing, knowledge exchange and capacity building.
