Government of India, ADB Sign $800 Million Loans and $1 Million Grant for Development Projects
India & ADB Sign $800M Loans for Maharashtra Solarization, Indore Metro, Gujarat Skills, and Assam SWIFT
The Government of India and the Asian Development Bank (ADB) have signed loan agreements worth over $800 million for development projects in Maharashtra, Madhya Pradesh, and Gujarat. They also approved a $1 million Technical Assistance (TA) grant for Assam.
The loans include $500 million for the Maharashtra Power Distribution Enhancement Programme for Agricultural Solarization. This program aims to modernize rural power infrastructure and provide reliable daytime solar electricity to about 900,000 farmers by 2028. An additional $190.6 million (¥27,147,200,000) will support the Indore Metro Project.
This project will create an 8.62 km underground metro line with seven stations, improving connectivity to key areas and the airport. A $109.97 million loan will aid Gujarat’s Skills Development Programme, which will improve workforce readiness in sectors like logistics, IT, manufacturing, renewable energy, healthcare, and agri-tech.
The $1 million TA grant will support the upcoming Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project in Assam. This project focuses on conserving wetlands and improving fisheries.
Shri Saurabh Singh, Deputy Secretary of the Department of Economic Affairs, and Ms. Mio Oka, ADB Country Director for India, signed the agreements. These projects are part of India’s ongoing partnership with ADB to strengthen infrastructure, renewable energy, and skill development in important states.