China's blocking of India's application for a loan from the Asian Development Bank (ADB) has raised hackles in Delhi, marking the first time Beijing has dragged a bilateral territorial dispute with India into a multilateral financial institution.
China asked for a postponement of an ADB board meeting on March 26-27, which was set to discuss the 2009-12 strategy for India. On the table was an Indian request for a US$2.9 billion loan approval. What appears to have got China's goat was the inclusion of a $60 million flood management, water supply and sanitation project in Arunachal Pradesh. Although China gave no explanation for its move at the ADB meeting, ADB sources in ...
Read more
Showcase your ideas, writing, and personal site to readers.
Support The Intelligence Daily by making a secure online donation