ADB pledges $5 billion for India's growth

New Delhi: The Asian Development Bank (ADB) committed $5 billion in loans, grants, and other assistance to India in 2024, supplemented by $2.2 billion in cofinancing, to bolster the nation's efforts in tackling key developmental challenges. The bank's support focused on critical sectors including healthcare, education, and infrastructure development across various states.

To address pressing healthcare needs, the ADB provided a significant $500 million loan to the Maharashtra government. In Meghalaya, the ADB extended its support to improve access to quality education and skills training, particularly targeting disadvantaged youth. A $64 million loan signed in 2024 is facilitating infrastructure upgrades in 65 secondary schools and 10 industrial training institutes. -Our Bureau