Saturday, May 2, 2009

India offloading stake in Asian Development Bank

India is offloading its equity in the Manila-based Asian Development Bank (ADB), Indonesian news agency Antara said on Tuesday, quoting officials. Indonesia is ready to acquire 1.5 per cent of India's stake to increase its equity in the bank from current 5.5 per cent, the agency said. India owns a 6.3 per cent stake in the ADB, while China has a 6.4 per cent. The largest shares in the bank are held by the US and Japan, each holding 15.57 per cent. India has been wanting to increase its shareholding in the other multilateral organisations like the International Monetary Fund and the World Bank.

Source: Antara

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