Sun Jun 01 11:06:42 UTC 2025: **Summary:**

The Asian Development Bank (ADB) President Masato Kanda met with Indian Prime Minister Narendra Modi and announced a $10 billion investment plan over the next five years to support India’s urban development. The funds will be used for projects like metro extensions, regional rapid transit systems, and urban infrastructure modernization. Kanda emphasized ADB’s commitment to supporting India’s goal of becoming a developed nation by 2047. Modi reiterated his government’s focus on accelerating India’s transformation.

**News Article:**

**ADB Pledges $10 Billion to Fuel India’s Urban Transformation**

**New Delhi, June 1, 2025** – The Asian Development Bank (ADB) will invest $10 billion over the next five years to support India’s urban development and modernization, ADB President Masato Kanda announced after meeting with Prime Minister Narendra Modi in New Delhi on May 31, 2025.

The substantial funding will be directed towards key infrastructure projects, including extensions of metro networks, the construction of new Regional Rapid Transit Systems corridors, and the modernization of vital city services. The initiative aims to bolster India’s ambition to become a “Viksit Bharat” (Developed India) by 2047.

“We will direct USD 10 billion, including third-party capital, over the next five years into municipal infrastructure development,” stated Mr. Kanda in a post on X. He emphasized the ADB’s dedication to supporting India’s growth trajectory and its goal of achieving developed nation status.

Prime Minister Modi echoed this sentiment, stating, “India’s rapid transformation over the last decade has empowered countless people and we are working to add further momentum to this journey!”

The ADB, a founding member since 1966 and India’s largest borrower, considers India a steadfast partner. Mr. Kanda highlighted the ADB’s commitment to mobilizing both public and private sector finance, deepening knowledge collaboration, and supporting inclusive, resilient, and sustainable growth for India’s 1.4 billion citizens.

Read More