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

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

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.

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.

Next Story
Real Estate

K Raheja Corp launches luxury tower at Raheja Galaxy, South Pune

K Raheja Corp Homes has unveiled a new luxury tower at Raheja Galaxy in South Pune, catering to the growing demand for premium living spaces in the area. Located off NIBM, the project offers seamless connectivity, excellent infrastructure, and a reputation for timely delivery and superior construction quality.The new tower features spacious 2-bed, 3-bed, and 3BHK L residences, priced from Rs 1.29 crore. The homes are designed with modern amenities and a neo-classical architectural style, offering a balance of functionality and luxury. Prices will increase after April 30th, making the early-bir..

Next Story
Infrastructure Urban

PM to Visit Bihar on April 24 for Panchayati Raj Day Celebrations

Prime Minister Shri Narendra Modi is scheduled to visit Bihar on 24th April 2025. During his visit to Madhubani, he will participate in the National Panchayati Raj Day celebrations at around 11:45 AM. On this occasion, he will inaugurate, dedicate, and lay the foundation stone for several development projects worth over Rs 134 bn, and will address the public gathering. As part of the programme, the Prime Minister will present the National Panchayat Awards, honouring the best-performing Panchayats from across the country. In the railways sector, Prime Minister Modi will flag off the Amrit Bha..

Next Story
Infrastructure Urban

Rs 140 Bn Infra Projects in North India Reviewed by DPIIT Secretary

Shri Amardeep Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), chaired a high-level Project Monitoring Group (PMG) review meeting to assess progress on major infrastructure projects in Uttar Pradesh, Haryana, Punjab, and Uttarakhand. The meeting was attended by senior officials from central ministries, state governments, and private sector project proponents. A total of 17 key infrastructure projects, collectively worth over Rs 140 billion, were reviewed during the session, which addressed 19 critical issues affecting project execution. The discussions..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?