India: Asian Development BankTo Offer US$300MN-$400MN Bond Issue

The Asian Development Bank is likely to raise US$300 million to $400 million through a bond issue in India. ADB's senior official said that the bond issue would be made in the next few months and also plans more bond issues in the coming years. ADB is likely to lend India, the fourth largest shareholder in ADB, about US$2.25 billion in 2005-06, US$2.45 billion in 2006-07 and US$2.65 billion in 2007-08. ADB had lent about US$1.2 billion in 2004-05. ADB's major funding in India is for the infrastructure sector, namely transport, urban and energy infrastructure.