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ADB commits up to $4.5 billion in annual sovereign loans for India

Asian Development Bank (ADB) President Masato Kanda on Friday announced that the bank is prepared to provide India with sovereign loans amounting to as much as $4.5 billion each year. "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 X. Yesterday I met Finance Minister @nsitharaman in New Delhi to deepen ADB's partnership with India and advance Prime Minister @narendramodi 's Viksit Bharat 2047 vision. I welcomed her 'Budget Plus, Finance Plus' agenda, which blends fiscal discipline with innovation, and her… — Masato Kanda (@ADBPresident) May 30, 2025 He added that alongside sovereign lending, the bank is also ready to provide approximately $1 billion annually in private sector financing, while working to attract additional funding from other sources. "ADB stands ready to provide between $4 billion and $4.5 billion in sovereign lending each year, alongside about $1 billion in private sector financing, while mobilising additional third-party capital," he said. Focus on large-scale projects Kanda highlighted ADB's commitment to quickly support large and impactful projects. One example is the bank's backing of solar rooftop initiatives, which are expected to boost the adoption of clean energy throughout India. "Our shared agenda centres on urban transformation, private sector development, and skills programs that strengthen India's manufacturing base," Kanda added. These areas are crucial for India's economic growth and industrial advancement. Supporting rural prosperity Following the Finance Minister's request, ADB will also intensify its support for integrated rural prosperity. This includes efforts to improve food systems, create employment opportunities, and encourage local entrepreneurship, all aimed at helping villages develop into resilient communities. During their meeting on Thursday, Sitharaman called for enhanced ADB involvement in rural prosperity projects, focusing on job creation, entrepreneurship, and agricultural innovation to strengthen village resilience. Kanda added that ADB will combine its global expertise with innovative financial tools, risk reduction measures, and strong public-private partnership frameworks to attract private investment. "Our partnership will create a prosperous, inclusive, resilient, and sustainable India by 2047, ensuring that progress reaches every city and village," he said.