New Delhi: Asian Development Bank (ADB) committed $2.6 billion (about Rs21,500 crore) in sovereign lending to India in 2023 for various projects.
The fund is aimed to strengthen urban development, support industrial corridor development, promote power sector reforms, build India’s climate resilience, and enhance connectivity.
ADB also extended $23.53 million in technical assistance and $4.1 million in grants under the sovereign portfolio.
In addition, ADB committed over $1 billion for private sector projects during the past year, the Manila-based multi-lateral development bank said in a statement.
“ADB’s portfolio in 2023 supported the government’s priority agenda. We will continue to focus on projects and programmes that accelerate India’s structural transformation, create jobs, address infrastructure gaps, promote green growth, and foster social and economic inclusiveness while deploying smart technologies and innovations,” ADB Country Director for India Mio Oka said.
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