UrbaADB President Commits $10 Billion for India’s Urban Infrastructure Development
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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...