• UGI USER
  • Dec 29, 2022
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ADB ranks WAPCOS amongst Top Consulting Services Firm in Water and other Infrastructure Sectors

Why in the News?

In a major breakthrough for WAPCOS, a Government of India Enterprise under the Ministry of Jal Shakti, the Asian Development Bank (ADB) in its report released on Annual Procurement, ranked WAPCOS as Top amongst Consulting Services Firm in Water and other Infrastructure Sectors, with highest sanctioned financed amount.

WAPCOS:

It is a central public sector enterprise wholly owned by the Government of India (“GOI”) under the administrative control of the Ministry of Jal Shakti, GOI.

They are engaged in engineering consultancy services and construction in the fields of water, power and infrastructure sectors for businesses and communities in India and overseas.

They along with our Subsidiary are also actively involved in construction business and have undertaken various projects in key sectors in India.

It has  been conferred with Schedule B Category-I Mini-Ratna status by the Department of Public Enterprises.

ADB:

The Asian Development Bank is a regional development bank (ADB) established on 19th December 1966. It is headquartered in Manila, Philippines.

History of ADB

ADB was envisioned in the early 1960s as a financial institution with an Asian aesthetic that would promote cooperation and economic development in one of the world’s poorest regions.

In 1963, the Economic Commission for Asia and the Far East (ESCAFE) conducted the inaugural Ministerial Conference on Asian Economic Cooperation, which led to the formation of the organisation.

 

Main objectives of ADB

  • Early in the 1960s, the ADB was envisioned as a financial organisation with an Asian aesthetic that would foster cooperation and economic growth in one of the world’s poorest regions.
  • The first Ministerial Conference on Asian Economic Cooperation was held in 1963 by the Economic Commission for Asia and the Far East (ESCAFE), which was the catalyst for the establishment of the organisation.

Focus areas

ADB provides its member countries in Asia and the Pacific with the knowledge and expertise to tackle the following problems:

  • Agriculture and Food Security
  • Climate Change and Disaster Risk Management
  • Digital Technology
  • Education
  • Energy
  • Environment
  • Finance
  • Fragility and Vulnerability
  • Gender and Development
  • Governance
  • Health
  • Public-Private Partnerships
  • Regional Cooperation and Integration
  • Social Development and Poverty
  • Sustainable Development Goals
  • Transport
  • Urban Development
  • Water

ADB and India

  • With investments in infrastructure, small business development, and the social sector, ADB is helping India recover quickly from COVID 19 in an environmentally friendly and inclusive manner.