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.
ADB has collaborated with over 110 cities across 22 states on projects related to water supply, sanitation, housing, and solid waste management, with an active urban portfolio comprising 27 loans amounting to $5.15 billion.
In terms of urban transport, ADB has committed $4 billion for metro projects and RRTS covering 300 kilometres in eight cities over a decade, including Delhi–Meerut RRTS, Mumbai Metro, Nagpur Metro, Chennai Metro, and Bengaluru Metro, aiming to cut congestion and emissions and provide access for vulnerable populations.
Additionally, ADB plans to invest in skills development programmes through the National Industrial Training Institute Upgradation Program with the motive to boost the manufacturing sector, encourage private sector growth, and create jobs.
Kanda met Finance Minister Nirmala Sitharaman during his visit to discuss the expansion of metro networks, including transit-oriented development (TOD), supporting rural prosperity, scaling rooftop solar capacities, and operationalising the UCF.
He also met Housing and Urban Affairs Minister Manohar Lal to outline the next steps for channelling private capital into urban projects.
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