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 ...
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