ADB to give $2.6 billion in sovereign lending to India
ECONOMY & POLICY

ADB to give $2.6 billion in sovereign lending to India

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)

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)

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?