PM Modi and ADB President Masato Kanda Discuss $10 Billion Commitment to Boost Indian Urban Infrastructure

Prime Minister Narendra Modi recently met with Masato Kanda, the president of the Asian Development Bank (ADB), at his official residence. During the meeting, Kanda pledged $10 billion for urban infrastructure projects in India over the next five years. This investment aims to enhance essential services, including municipal infrastructure, Metro expansions, and new regional transit corridors.

Kanda expressed strong support for Modi’s vision of a "Viksit Bharat" (Developed India) by 2047. He stated that the ADB is ready to back India’s aim for inclusive and sustainable growth.

In the past decade, India has experienced significant advancements, empowering many citizens. Kanda emphasized the importance of increasing public and private financing to further these efforts. The ADB currently collaborates with over 110 cities across 22 states, focusing on critical areas like water supply, sanitation, and waste management. Their active urban portfolio includes 27 loans totaling $5.15 billion.

Before meeting Modi, Kanda also discussed rural prosperity and solar energy initiatives with Finance Minister Nirmala Sitharaman and connected with Urban Development Minister Manohar Lal Khattar to explore private investment opportunities in urban projects.

The commitment from the ADB reflects a growing trend in international partnerships aimed at urban development in India. According to recent studies, urbanization in India is accelerating, and by 2030, nearly 600 million people are expected to live in cities. This investment is a step toward meeting the infrastructure demands of this growing population.

For more details on urban development strategies that align with sustainable growth, refer to the ADB report on urban infrastructure.

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ADB Investment, Urban Infrastructure, Viksit Bharat 2047, PM Modi, Masato Kanda