ADB clears $400 mn loan for better infra in Indian cities

NEW DELHI: The Asian Development Bank (ADB) has approved a $400 million loan to support the Indian government in improving the quality of urban life through the creation of high-quality urban infrastructure, assured public services, and efficient governance systems.

The loan under Subprogramme 2 will support investment planning and reform actions at the state and urban local body (ULB) levels, the ADB said.

“India has recognised the potential for cities to be centres of economic growth and has emphasised the need to make cities livable through inclusive, resilient, and sustainable infrastructure, which is also in line with ADB Strategy 2030,” said ADB Principal Urban Development Specialist Sanjay Joshi.