ADB President Kanda says ready to lend $4.0 bln-$4.5 bln to India every year
This story was originally published at 20:57 IST on 30 May 2025
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NEW DELHI – Asian Development Bank will provide $4.0 billion-$4.5 billion in sovereign lending each year to India, the multilateral agency's President Masato Kanda posted on microblogging site X on Friday. This comes a day after he met Finance Minister Nirmala Sitharaman in Delhi.
"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. We agreed to move quickly on large, high-impact projects, such as ADB's support for solar rooftops, which can accelerate clean energy adoption across the country," he posted.
In her meeting with the multilateral agency, Sitharaman on Thursday batted for deeper support from the ADB for integrated rural prosperity measures, including the creation of jobs and local entrepreneurship. Sitharaman had also stressed on the need for fostering innovation in agriculture to transform villages into resilient communities, the finance ministry said in a post on X.
"At the minister's request, we will also sharpen support for integrated rural prosperity by transforming food systems, creating jobs, and nurturing local entrepreneurship so villages become resilient communities," Kanda said.
On Thursday, the finance minister had urged ADB to play a catalytic role in enabling private investment through policy support and strengthening the public–private partnership ecosystem. End
US$1 = INR 85.57
Reported by Sagar Sen
Edited by Tanima Banerjee
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