Tags: ADB loan , China , India , Shashi Tharoor

New Delhi: Lashing out on China for blocking ADB loan worth USD 2.9 bn to India, Minister of State for External Affairs Shashi Tharoor termed the China's move as outrageous.

India reacted sharply on China's move to block a loan worth USD 2.9 bn to India as a part of it was for an Arunachal Pradesh project.

In an interview to private news channel, Tharoor said, “We value our ties with China but blocking the loan at Asian Development Bank (ADB) was outrageous.”

The proposed USD 60 million watershed protection loan in the impoverished state of Arunachal Pradesh is part of the ADB's 2009-2012 lending programme for India worth a total USD 2.9 billion.

The Manila-based ADB had to postpone consideration of the Indian loan programme in March because of objections by China, which says the territory in question is ‘disputed'.

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