NEW DELHI: Asian Development Bank (ADB) President Masato Kanda on Friday said the multilateral funding agency is prepared to provide up to $4.5 billion in sovereign lending to India every year to support the country’s development priorities.

“Yesterday I met Finance Minister Nirmala Sitharaman in New Delhi to deepen ADB’s partnership with India and advance Prime Minister Narendra Modi’s Viksit Bharat 2047 vision,” Kanda said in a post on social media platform X.

He added that ADB is ready to offer between $4 billion and $4.5 billion annually in sovereign loans. In addition, the bank aims to provide around $1 billion in private sector financing while mobilising further resources through third-party capital.

The Viksit Bharat 2047 vision lays out India’s long-term development goals, aiming to transform the country into a developed economy by its centenary of independence.

 ADB has been a key partner in India’s infrastructure and social sector projects, spanning energy, transport, urban development, and climate resilience.

Kanda’s remarks signal ADB’s continued commitment to supporting India’s growth ambitions and its transition to a more sustainable, inclusive economy.