LawLoveLegal

A Major Boost to India’s Urban Transformation In a significant move aimed at accelerating India’s urban development, Asian Development Bank (ADB) President Masatsugu Asakawa has committed up to USD 10 billion over five years. The funding is intended to support India’s ambitious urban infrastructure plans including metro rail extensions, new Regional Rapid Transit System (RRTS) corridors , and enhanced urban services. This commitment includes a combination of sovereign loans, private sector financing, and third-party capital mobilization , forming part of a broader strategy to fast-track India's journey towards its "Viksit Bharat @ 2047" vision. Cities as Engines of Growth: ADB’s Vision Speaking after his meeting with Prime Minister Narendra Modi in New Delhi, President Kanda emphasized the importance of urban centers as economic drivers. He stated that ADB would help mobilize capital, accelerate project delivery , and scale up innovative solutions to empower In...

Context: The Pahalgam Terror Attack and India's Diplomatic Fallout India has escalated its diplomatic offensive against Pakistan following the April 22 terrorist attack in Pahalgam, Jammu and Kashmir , which resulted in the tragic deaths of 26 people , many of whom were tourists. This gruesome attack has triggered a series of retaliatory steps from India, targeting Pakistan's financial and international support systems. India’s Demand to Italy: Cease Financial Support to Pakistan At the 58th Annual Meeting of the Asian Development Bank (ADB) in Milan , Finance Minister Nirmala Sitharaman met with her Italian counterpart Giancarlo Giorgetti . During the bilateral discussion, India formally demanded that the Italian government halt its financial assistance to Pakistan . This move is significant, considering that Italy is a major partner of the United Nations Development Programme (UNDP) , especially in Pakistan. According to the UNDP website , the Italian Development Co...