ADB to give $2.6 billion in sovereign lending to India

30 May 2024 CW Team

Mio Oka, ADB's Country Director for India, affirmed that the bank's portfolio in 2023 aligned with the government's priority agenda. Emphasising a strategic focus on projects that accelerate India's structural transformation, create employment opportunities, address infrastructure deficiencies, promote environmentally sustainable growth, and foster social and economic inclusivity, Oka underscored the deployment of smart technologies and innovations.

Throughout 2023, ADB approved additional funding to support India's national industrial corridor development program, aimed at enhancing manufacturing competitiveness. This included loans for the Visakhapatnam-Chennai Industrial Corridor Development. Additionally, policy-based loans were allocated to support urban reforms at the state level and facilitate power sector reforms to facilitate the transition to renewable energy sources.

Furthermore, ADB provided funding for various projects across different states, including expanding urban services in Uttarakhand, Rajasthan, and Tripura, improving road connectivity in Bihar and Madhya Pradesh, expanding the Delhi-Meerut rapid rail transit corridor, and boosting horticulture development in Himachal Pradesh.

ADB remains committed to tailoring its approach based on the developmental stage of different states. It prioritises projects focusing on basic services, critical infrastructure, institutional strengthening, and private sector development in low-income states. For more developed states, ADB concentrates on transformational programs, offering policy and knowledge advice along with non-sovereign operations.

Established in 1966, ADB is dedicated to achieving prosperity, inclusivity, resilience, and sustainability across Asia and the Pacific while continuing efforts to eradicate extreme poverty. With ownership shared among 68 members, ADB plays a crucial role in regional development initiatives. (ET Infra)

The Asian Development Bank (ADB) pledged $2.6 billion in sovereign lending to India during 2023 for diverse projects. This financial commitment is directed towards bolstering urban development, facilitating industrial corridor development, advancing power sector reforms, enhancing India's climate resilience, and improving connectivity. Additionally, ADB allocated $23.53 million for technical assistance and $4.1 million in grants under the sovereign portfolio. Furthermore, ADB invested over $1 billion in private sector projects over the preceding year, as stated by the Manila-based multilateral development bank. Mio Oka, ADB's Country Director for India, affirmed that the bank's portfolio in 2023 aligned with the government's priority agenda. Emphasising a strategic focus on projects that accelerate India's structural transformation, create employment opportunities, address infrastructure deficiencies, promote environmentally sustainable growth, and foster social and economic inclusivity, Oka underscored the deployment of smart technologies and innovations. Throughout 2023, ADB approved additional funding to support India's national industrial corridor development program, aimed at enhancing manufacturing competitiveness. This included loans for the Visakhapatnam-Chennai Industrial Corridor Development. Additionally, policy-based loans were allocated to support urban reforms at the state level and facilitate power sector reforms to facilitate the transition to renewable energy sources. Furthermore, ADB provided funding for various projects across different states, including expanding urban services in Uttarakhand, Rajasthan, and Tripura, improving road connectivity in Bihar and Madhya Pradesh, expanding the Delhi-Meerut rapid rail transit corridor, and boosting horticulture development in Himachal Pradesh. ADB remains committed to tailoring its approach based on the developmental stage of different states. It prioritises projects focusing on basic services, critical infrastructure, institutional strengthening, and private sector development in low-income states. For more developed states, ADB concentrates on transformational programs, offering policy and knowledge advice along with non-sovereign operations. Established in 1966, ADB is dedicated to achieving prosperity, inclusivity, resilience, and sustainability across Asia and the Pacific while continuing efforts to eradicate extreme poverty. With ownership shared among 68 members, ADB plays a crucial role in regional development initiatives. (ET Infra)

Resources

03 Jun 2026

Jyoti Structures Launches Heat Safety Drive Across Sites

Jyoti Structures (JSL) has strengthened heat safety measures across its project sites and manufacturing facilities as temperatures rise across India. The company has implemented a Summer Safety Plan covering all transmission line projects to address risks related to heat stress, dehydration and worker fatigue.The initiative includes rescheduling work away from peak afternoon temperatures, provision of drinking water, ORS and lemon-salt solutions, and installation of rest shelters near work areas. Daily toolbox talks, worker health monitoring, first-aid preparedness, emergency transport arrange..

Real Estate

03 Jun 2026

MHADA Declares 82 Buildings Most Dangerous in Central and South Mumbai

The Maharashtra Housing and Area Development Authority (MHADA) has declared 82 buildings as most dangerous across Central and South Mumbai and has appealed to residents to vacate immediately. The list, prepared after structural assessments by the authority, identifies buildings judged to pose imminent risk to occupants and to passersby. Local civic bodies have been asked to coordinate evacuations and to make arrangements for temporary shelter and rehabilitation for displaced households. Officials said the authority prioritised buildings with visible structural distress, severe cracking, tiltin..

Infrastructure Transport

03 Jun 2026

Damage Reported At Halwara Airport Terminal After First Rains

Severe damage was reported at the terminal of Halwara Airport during the first major rain spell of the season, prompting immediate concern among aviation and local authorities. Images from the site showed water ingress and visible deterioration of the terminal interior, affecting passenger areas and ancillary services. The airport authority suspended certain operations temporarily to assess structural safety and ensure passenger wellbeing. Preliminary inspections have prioritised electrical systems and roof seals to prevent further water ingress. State aviation officials ordered a formal inqui..