ADB President Masato Kanda pledges $10 billion for Indian urban infrastructure
Asian Development Bank (ADB) President Masato Kanda announced that the ADB will invest $10 billion in Indian urban infrastructure over a period of five years.
This investment aims to transform urban infrastructure across India, including metro extensions, new regional rapid transit system (RRTS) corridors, and urban services, ADB said in a statement.
“Cities are engines of growth,” Mr Kanda said after meeting PM Narendra Modi. “ADB will mobilise capital, accelerate delivery, and scale solutions that keep India’s urban economy moving and people thriving on the road to Viksit Bharat @ 2047,” he added.
Masato Kando arrived in India last week, marking his official state visit after becoming the ADB President.
These proposed funds include sovereign loans, private sector financing, and third-party capital, led by Urban Challenge Fund (UCF), which is a government initiative announced in the Union Budget 2025.
ADB has announced a commitment of $3 million in technical assistance to design bankable projects and strengthen the capacity of states and urban local bodies.
The towns and cities across the country are expected to house over 40% of the population by 2030.