The Asian Development Bank (ADB) is prepared to offer sovereign lending of up to USD 4.5 billion annually to India, according to ADB President Masato Kanda. This financial support aligns with India’s developmental roadmap under the Viksit Bharat 2047 vision.

In a post shared on X, Kanda noted that he met Finance Minister Nirmala Sitharaman in New Delhi to strengthen ADB’s partnership with India. He confirmed that the multilateral funding institution could provide between USD 4 billion and USD 4.5 billion each year as sovereign lending.

In addition, ADB aims to extend nearly USD 1 billion through private sector financing and will work to mobilise supplementary third-party capital. These investments are expected to support various sectors contributing to India’s long-term growth strategy.

This announcement underscores ADB’s commitment to collaborating with India on critical infrastructure, sustainable development, and inclusive growth. It further reinforces the country’s objective of achieving developed economy status by 2047, with financing and expertise from global partners. 

Source

Press Trust of India (PTI)