ADB offers 25 billion dollars in support of India’s sustainable growth
Earlier this week, President of Asian Development Bank (ADB) Masatsugu Asakawa and Indian Prime Minister Narendra Modi met to discuss the country’s priorities in terms of development and green and sustainable goals. The meeting confirmed the Bank's intention to provide 20 to 25 billion resources over 5 years to advance the country’s aspirations for fast, inclusive, and green growth.
“ADB will provide multifaceted support for India’s key priorities, including the important infrastructure push under the PM’s Gati Shakti (National Master Plan for multimodal connectivity) initiative, building future cities, mobilizing domestic resources, and strengthening basic services in disadvantaged districts”, said Asakawa.
ADB support to India’s infrastructure, climate action and social development was a key point in the discussion that focused on the scaling of the bank assistance to meet the country’s priority development needs. ADB already has a 2023-2027 country partnership strategy (CPS) for India, but now the parts - after a consultation process with stakeholders - are finalizing a new 5-year partnership