Country Partnership Strategy for India ? ADB

Country Partnership Strategy for India – ADB

News: The Asian Development Bank (ADB) has announced its India strategy for the period 2023-2027, with a key focus on employment creation and promoting green growth.

Background:
 The Country Partnership Strategy (CPS) for India (2023-2027) is a plan by the Asian Development Bank (ADB) to deepen its engagement with India and support its drive for robust, climate-resilient, and inclusive growth.

What is CPS 2023-27?
 It supports India’s national development priorities to be achieved by 2047, aligning with the country’s 100 years of independence.
 It focuses on 3 pillars – i) Accelerate the structural transformation and job creation through the convergence of logistics-industry-urban-skilling programs, along with support for MSMEs ii) Promote climate resilient growth and iii) Deepen social and economic inclusiveness.
 It also focuses on 4 Cross-cutting themes – i) Domestic resource Mobilization ii) Gender equality and social inclusion iii) Digitalization and innovation ecosystem support and iv) Regional co-operation and integration through SASEC

About ADB:
 The Asian Development Bank (ADB) envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.
 ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
 The Asian Development Bank has 68 member countries, with 49 from the Asia-Pacific region and 19 from outside the region.
 The Asian Development Bank is owned by its member countries, with Japan and the United States being the largest shareholders.
 India is one of ADB’s founding members.
 The bank operates with a weighted voting system, similar to the World Bank, where votes are distributed based on members’ capital subscriptions.
 ADB's highest policy-making body is the Board of Governors, which comprises one representative from each member nation. The Governors elect 12 members to form the Board of Directors, which performs its duties full time at the ADB headquarters.
 Headquarters – Manila, Phillipines.