Asian Development Bank (ADB) provides $500 million loan to India

The Manila-based bank announced approving two $250 million loans on Monday, supporting key Indian infrastructure initiatives.

• Boosting regional transportation: One loan fuels the construction of the 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor. This first-of-its-kind initiative in India aims to connect Delhi to neighboring states through a high-speed rail network. The project leverages a previous $1 billion ADB loan and includes multi-modal hubs for seamless transfers between modes. Juhi Mukherjee, Joint Secretary of India’s Finance Ministry, emphasized the project’s potential to improve urban mobility, particularly for women and persons with disabilities.
• Enhancing industrial competitiveness: The other loan supports Subprogram 2 of the government’s National Industrial Corridor Development Programme (NICDP) under the Prime Minister Gati Shakti platform. This builds on Subprogram 1 and further integrates industrial corridors with transport, logistics, and urban facilities. The program aims to strengthen policy frameworks, develop 11 industrial corridors, and create jobs in various sectors like agribusiness, automotives, and pharmaceuticals. This is expected to alleviate poverty in the corridor states.

In conclusion, this $500 million investment from ADB reflects its commitment to supporting India’s infrastructure development, promoting both efficient urban mobility and industrial competitiveness.