Asian Development Bank approves USD 400 million loan to India

MANDALUYONG (PHILIPPINES) : The Asian Development Bank has approved a $400 million loan to support the Indian government’s urban reform agenda for creating high-quality urban infrastructure and efficient governance systems.

The programme also envisages integrated urban planning reforms to control urban sprawls and foster systemic and planned urbanisation through enhancing the entire ecosystem of legal, regulatory, and institutional reforms along with capacity building of ULBs and community awareness, ADB said.

The Asian Development Bank has approved a $400 million policy-based loan to India for Sub-programme 2 of the Sustainable Urban Development and Service Delivery Programme. The programme aims to support the government’s urban reform agenda for improving the quality of urban life through the creation of high-quality urban infrastructure, assured public services, and efficient governance systems,” ADB said.

While Subprogramme 1, approved in 2021, established national-level policies and guidelines to improve urban services, Subprogramme 2 is supporting investment planning and reform actions at the state and urban local body levels.

“India has recognised the potential for cities to be centres of economic growth and has emphasised the need to make cities livable through inclusive, resilient, and sustainable infrastructure, which is also in line with ADB Strategy 2030,” ADB Principal Urban Development Specialist Mr. Sanjay Joshi said.