India and ADB ink $ 400 mn deal for urban infrastructure development

14 Nov 2023 CW Team

The central government had entered into an agreement with the Manila-based Asian Development Bank (ADB) to secure a $ 400 million policy-based loan. The purpose of this collaboration is to bolster the urban reform agenda, aiming to develop high-quality urban infrastructure, enhance service delivery, and foster efficient governance systems.

The loan agreement for Sub-programme 2 of the Sustainable Urban Development and Service Delivery Programme was officially signed by Juhi Mukherjee, Joint Secretary of the Department of Economic Affairs, and Takeo Konishi, the Country Director of ADB's India Resident Mission. The financing for Sub-programme 1, which amounted to $ 350 million and was approved in 2021, laid the groundwork for national-level policies and guidelines geared towards improving urban services.

According to a statement from the finance ministry, Sub-programme 2 will focus on supporting investment planning and implementing reform actions at the state and urban local body (ULB) levels. This marks a significant step in advancing the goals of the urban reform agenda, contributing to the overall improvement of urban services across the country.

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