ADB Commits $2.6 Billion to India for Various Projects

May 30, 2024

ADB, the Asian Development Bank, promised to give a large amount of money (2.6 billion USD) to India in 2023 for several development projects. As part of this promise, USD 23.53 million in professional help and USD 4.1 million in grants were also given under the sovereign portfolio. In addition, over the past year, the bank has given more than USD 1 billion to projects in the private sector.

Areas of Focus

The ADB’s funding is meant to help with several important growth projects, including:

Improving the connectivity of infrastructure
Supporting the growth of industry corridors
Pushing for changes in the power sector, especially those that involve renewable energy
Making India more climate-resilient

Specific Projects Funded

Significant allocations were made to various impactful projects:

Additional funding for India’s national industrial corridor development program, which seeks to enhance the country’s manufacturing competitiveness.
Support for urban reforms and power sector reforms at the state level.
Expansion of urban services in states like Uttarakhand, Rajasthan, and Tripura.
Improvement in road connectivity in Bihar and Madhya Pradesh
Expansion of the Delhi-Meerut rapid rail transit corridor.
Development of horticulture in Himachal Pradesh.

Strategic Focus on State Development

The ADB uses a different approach for each state depending on its level of development. For example, in low-income states, the focus is on providing basic services, improving critical infrastructure, and building stronger institutions through sovereign operations. In more developed states, the focus is on transformational projects that include non-sovereign operations and policy and knowledge advice.

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