Sitharaman urges ADB to speed up financing deals; US, China spar over funding

Milan (Italy): Finance minister Nirmala Sitharaman on Monday urged the Asian Development Bank (ADB) to cut the processing time for its lending transactions and either enhance or better manage the capital available for lending Her call came at the multilateral body's 58th annual meeting, which also saw the US and China spar over funding for Chinese projects. Also Read | Climate change can take big toll on Asian economies, says ADB report Sitharaman urged the ADB to make quick progress on capital expansion and capital management measures so that its lending limits do not affect the borrowing programmes of developing…