China vetoes Indias loan application at the ADB

[ahmedsid]

[mod] Get Back On Topic, this is a Warning.[/mod]

 

[LETHALFORCE]

should India continue with the IMF funding??

Europe looks to India to plug IMF funding hole - SiliconIndia

Pranab begins BRIC meetings, India asked to plug IMF funding hole

India for three-fold increase in IMF equity

 

[Rage]

Why not look to the IMF as an alternative lending source? If we are going to contribute $10 billion to them, why not expect a payoff?


India for three-fold increase in IMF equity

Posted: Apr 07, 2009 at 1432 hrs IST


New Delhi India pitched for tripling the International Monetary Fund's (IMF's) equity to SDR 650 billion (about USD 975 billion) to empower the multilateral funding
agency to play an effective role in pulling the global economy
out of the current crisis.

India pleaded for 200 per cent increase in the quota size (kind of equity) of the IMF at the G-20 meeting in London last week, arguing that the current resources of the Fund are inadequate to meet the demands of the world economy in the wake of the financial crisis, which is likely to be prolonged.

The total size of the IMF quotas is SDR 217 billion, in which India's share is SDR 4.16 billion.

Prime Minister Manmohan Singh too had said after the G-20 Summit in London, "India does not need IMF funding but we have been in favour of expanding IMF resources as this will help developing countries that need assistance. It will restore confidence about emerging markets."

According to sources, India, during the G-20 Sherpas Meetings (preparatory meetings for the Summit), also underlined the need for an early conclusion of the IMF quota review even before 2011, in addition to endorsing a target quota increase by 200 per cent.


India for three-fold increase in IMF equity - Express India

 

[hit&run]

what is chines share in IMF equity???

 

[Pintu]

3.7% up from 2.9% previous 2006 , as the reform talks are happening , we may see as China: 3.7 % , India: 2.3 %

Regards

 

[Daredevil]

GoI was not proactive in pushing through its perspective with several countries in the form of de marches that it did last time, while China has been pressurizing other countries like Japan and Australia by means of trade incentives etc to push through its perspective. GoI has been lazy and it paid the price. I hope next time it will act with more alacrity.

 

[hit&run]

3.7% up from 2.9% previous 2006 , as the reform talks are happening , we may see as China: 3.7 % , India: 2.3 %

Regards

Can we rule out chines influence while asking loan for AP from IMF. Until unless India is not declaring this as clear chines hostility and follow more assertive approach on this issue; china will try its luck every time.

 

[LETHALFORCE]

India denies any hiccups on ADB country loan for Arunachal- Finance-Economy-News-The Economic Times

India denies any hiccups on ADB country loan for Arunachal
19 Sep 2009, 2009 hrs IST, AGENCIES

NEW DELHI: Clearing the air on the $2.9 billion country plan loan sanctioned to India by the Asian Development Bank (ADB), Foreign Secretary
Nirupama Rao said there was no pending issue and that the loan has been approved.

The loan has a total approval of the members. Officials confirmed that there was no mention of disclosure agreement.

The confusion erupted after an Indian English daily reported that China has won a vote on a "disclosure agreement," which prevents the ADB from formally acknowledging and notifying Arunachal Pradesh as part of India.

MEA sources confirmed that there is no mention of disclosure agreement and that the country partnership strategy loan for India is endorsed by the Asian Development Bank.

China had raised objections to the plan because it included 60-million-dollar worth of projects in Arunachal Pradesh. It argued that ADB cannot fund projects in "disputed areas" like Arunachal Pradesh.

But On June 16, India had successfully isolated China - the entire ADB Board except Beijing had voted in India's favour and the loan was sanctioned.

MEA sources further explained that while China may have a position on Arunachal Pradesh, the ADB has not hesitated to approve the country loan to India.

Foreign Secretary Rao also blamed the media for drumming up the Chinese incursion issue and echoed the Prime Minister and the Army Chief's views that there has been no significant rise in incursions from the Chinese side.

When asked whether the Prime Minister had taken up the incursion issue with the top Chinese leadership, Foreign Secretary Rao further said mechanisms are in place and have proven effective over time.

 

[Rage]

India gets $185 mn ADB loan for road projects

Fri, Sep 4 2009. 12:01 AM IST

The loan would be used for improving rural roads in Assam, Orissa and West Bengal


Newswire18

New Delhi: The Indian government and the Asian Development Bank signed on Thursday an agreement for a $185 million loan for rural road projects in three states, a finance ministry release said on Thursday.

The loan would be used for improving rural roads in Assam, Orissa and West Bengal, it said.


India gets $185 mn ADB loan for road projects - Economy and Politics - livemint.com

 

[RPK]

After helping China, Aus says AP belongs to India

http://www.ptinews.com/news/298455_After-helping-China--Aus-says-AP-belongs-to-India

After helping China, Aus says AP belongs to India

New Delhi, Sep 24 (PTI) Australia, which recently joined China in blocking an ADB loan for a project in Arunachal Pradesh, today said it does not believe in the Chinese contention that the state is not a part of India.

Newly-appointed Australian High Commissioner Peter Verghese said Australia always considered Arunachal a part of India and its voting at Asian Development Bank against the loan was based on a broad position formulated by the management of the lending agency.

"It was not a pro-China or anti-India vote. We thought we should take a position based on the assessment by the management of the ADB," Verghese told PTI here.

"We always supported the Indian position (on Arunachal) and there is no change of our stand," said Verghese, who presented his credentials to President Pratibha Patil earlier in the day.

 

[redragon]

Very typical AUSIE, but unfortunatly, this kind of show won't help India a lot

 

[bhramos]

good take Oz,
like this all small strings make a big storm like Katrina, US only couldn't face it, how come you???
hehehehehe!!!!!!!!!!!

 

[mattster]

What a load of Crock !!

http://www.ptinews.com/news/298455_After-helping-China--Aus-says-AP-belongs-to-India

After helping China, Aus says AP belongs to India

New Delhi, Sep 24 (PTI) Australia, which recently joined China in blocking an ADB loan for a project in Arunachal Pradesh, today said it does not believe in the Chinese contention that the state is not a part of India.

"It was not a pro-China or anti-India vote. We thought we should take a position based on the assessment by the management of the ADB," Verghese told PTI here.

"We always supported the Indian position (on Arunachal) and there is no change of our stand," said Verghese, who presented his credentials to President Pratibha Patil earlier in the day.

Geez...Voting against an ADB loan intended for development in AP was not anti-India....Oh well they might as well have just bent over for the Chinese.

"Broad position based on the assessment of the management of the ADB".....

Does this guy think anyone in India is going to buy his rationale. The spineless Aussie buckled under Chinese pressure and now they are try to recover.

Australians are a freaking joke, period !!

This guy Verghese is starting of his posting in India by becoming an embarrassment to Malayalee christians.

[mod] Mind Your Language Mattster [/mod]

 

[StealthSniper]

Wow does Australia think India is dumb or something? Actions speak louder then words and the actions say they supported China.

 

[hit&run]

Australian Buffoon labour govt. will shout in parliament for spending money for development of their nation and will swear like a bully rough in public to make their point. They will bark out all the well scripted propaganda; not to give appropriate answers to opposition but may piss in their pants even when china will blink its eye.

 

[Vladimir79]

China just signed a $50 billion gaz deal with Oz. It isn't suprising they join up.

 

[hit&run]

China just signed a $50 billion gaz deal with Oz. It isn't suprising they join up.

Even India has signed (20 billion i think) gaz deal with oz.

The point here is that Indian media is doing a very good job by telling the truth against all odds; when govt of India is spending most of the time telling people that every thing is all right.

We don't need people like krishna menon and many..the list is on, befooling Indians for the same that is every thing is alright.

India stands 'no where' today if we think and run our rational brains for the sake of better out comes as far as our foreign policies are concerned.

Our elected ministers are not doing their home work they are not prepared we don't have national policies based on our national interests. these ministers have no idea what they are going to do when abroad. They have no charm to pursue such issues. Oz call for AP is not a surprise, it was inevitable, even a third class Libyan bulldog Gaddafi can embarrass us in UN cause he knows India is passive toothless nation.

 

[RPK]

China just signed a $50 billion gaz deal with Oz. It isn't suprising they join up.

I think India also signed some Bn$$$ for Aus gas..

 

[borgking82]

I think its time that India stop spending billions sending students to Australia. I'm sure the government can save billions if they gave these students a chance at IITs, IISc, etc. Those billions could then be spent on developing Arunachal Pradesh or any other state.

 

[tarunraju]

Arunachal is part of India: Australia

Australian High Commissioner Peter Verghese on Friday, Sep 25 said that Australia always considered Arunachal Pradesh a part of India.

He said that its voting at Asian Development Bank against the loan was based on a broad position formulated by the management of the lending agency.

"It was not a pro-China or anti-India vote. We thought we should take a position based on the assessment by the management of the ADB," Verghese said in New Delhi.

"We always supported the Indian position (on Arunachal) and there is no change of our stand," said Verghese, who presented his credentials to President Pratibha Patil on Thursday, Sep 24 morning.

Source