The Asian Development Bank (ADB) has pledged a significant $10 billion investment over the next five years to bolster India’s urban infrastructure.
This commitment aims to transform urban landscapes across the country, focusing on municipal infrastructure development, metro system expansions, the establishment of new regional rapid transit system corridors, and the modernization of urban services. The ADB’s support aligns with India’s vision of becoming a developed nation by 2047, as outlined in the ‘Viksit Bharat’ initiative.T During a recent meeting, the ADB President expressed strong support for India’s ambitious development goals, emphasizing the bank’s readiness to assist in scaling up public and private sector finance, deepening knowledge collaboration, and mobilizing capital to achieve inclusive, resilient, and sustainable growth for India’s 1.4 billion people. This collaboration underscores the ADB’s commitment to India’s urban transformation and its broader development objectives.
The ADB has a history of partnering with Indian cities to improve urban infrastructure. It has collaborated with over 110 cities across 22 states on projects related to water supply, sanitation, housing, and solid waste management. Currently, the ADB’s active urban portfolio includes 27 loans amounting to $5.15 billion, reflecting its ongoing support for urban development in India. This new $10 billion investment is expected to significantly enhance the quality of urban life in India, promoting sustainable development and improving public transportation systems across the country. It also aligns with India’s broader urban growth and modernization objectives, aiming to create more livable, efficient, and resilient urban environments.
The ADB’s commitment to India’s urban development is a testament to the strong partnership between the two entities and their shared vision for a prosperous and sustainable future. As India continues its journey towards becoming a developed nation, such collaborations will play a crucial role in realizing the goals of the ‘Viksit Bharat’ initiative and ensuring inclusive growth for all.
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