ADB Financing USD 25 Billion for India's Green Infrastructure
Asian Development Bank President Masatsugu Asakawa discussed with the multilateral bank and prepared to give 20–25 billion USD over five years to aid India’s ambition for Green Growth.
March 02, 2023. By EI News Network
The green growth notion would drive ADB’s India programme to help the country fulfil its global climate action pledges.
ADB will concentrates on assisting the decarbonization of transport and the clean energy transition, containing carbon market development and circular economy transition.
ADB will provide multifarious varied support for India’s key priorities, containing the significant infrastructure push under the PM’s Gati Shakti (National Master Plan for multimodal connectivity) scheme, constructing future-ready cities, utilizing domestic resources, and promoting basic services in deprived regions.
Climate change transformation actions are proposed through projects such as flood management, coastal protection, water use efficiency improvement, and agriculture value chain advancement.
ADB began its functions in India in 1986. ADB’s present India portfolio includes 64 projects worth around USD16 billion such as the transport, urban, energy, human development, agriculture and natural resources, and finance sectors.
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