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ADB SEEKS JV PARTNERS TO ENTER INDIA'S INSURANCE SECTOR.

AsiaPulse News

| April 02, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, April 2 Asia Pulse - The Asian Development Bank (ADB) has expressed interest in entering the Indian insurance sector as part of plans to tap long-term funds in the country and is scouting for Indian and foreign insurance partners.

"We would like to enter the Indian insurance sector," ADB resident representative in India Frank Polman told PTI here on Friday, but expressed apprehension about the time within which it would be possible.

He said "the bank would like to extend financial support and technical assistance to the Indian partner to tap long-term funds. The bank was not approached by any Indian company for an insurance joint venture as yet, he added.

ADB has communicated their ...

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