India and Asian Development Bank Seal Multi-State Development Funding Package | 05 Dec 2025
Why in News?
The Government of India and the Asian Development Bank (ADB) signed loans worth over $800 million for development projects in Maharashtra, Madhya Pradesh and Gujarat, along with a Technical Assistance grant of $1 million for a wetland and fisheries project in Assam.
Key Points
- Key Finalised Loan Agreements:
- $500 million for Maharashtra Power Distribution Enhancement Programme
- $190.6 million for the Indore Metro Rail Project
- $109.97 million for Gujarat Skills Development Programme
- Also, a Technical Assistance grant of $1 million was signed for the Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project in Assam.
- ADB (Asian Development Bank)
- Established in 1966, headquartered in Manila, Philippines, with 69 member countries to promote social and economic development in Asia and the Pacific through loans, grants, and technical assistance.
- India is among ADB’s largest borrowers, with ongoing support for transportation, energy, skills, urban services, and climate resilience.
- ADB has set a target to ensure 75% of its operations support climate change mitigation and adaptation by 2030, aligning with sustainable development goals.
- Established in 1966, headquartered in Manila, Philippines, with 69 member countries to promote social and economic development in Asia and the Pacific through loans, grants, and technical assistance.