What Commitment Did ADB President Masato Kanda Make During His Meeting With PM Modi?
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Synopsis
Prime Minister Narendra Modi's recent meeting with ADB President Masato Kanda unveiled a significant investment of $10 billion for India's urban infrastructure. This commitment is poised to reshape the urban landscape, empowering citizens and supporting India's goal of becoming a developed nation by 2047. Discover the potential impact of this partnership.
Key Takeaways
- ADB pledges $10 billion for urban infrastructure in India.
- Investment targets municipal development and Metro extensions.
- Supports the Viksit Bharat 2047 vision.
- Focus on creating inclusive and sustainable growth.
- Collaboration with over 110 cities across 22 states.
New Delhi, June 1 (NationPress) Prime Minister Narendra Modi recently shared a photograph on X, documenting his meeting with Masato Kanda, the president of the Asian Development Bank (ADB), at his official residence. During this significant meeting, Kanda committed to a substantial investment of $10 billion aimed at enhancing urban infrastructure in India over the next five years.
This investment is envisioned to revolutionize urban infrastructure throughout the nation, focusing on municipal development, extending Metro services, establishing new Regional Rapid Transit System (RRTS) corridors, and modernizing urban services, as stated by ADB.
Kanda expressed his support for Modi's Viksit Bharat initiative, stating on X, “The vision for Viksit Bharat 2047 is ambitious, and the ADB stands behind this goal.”
PM Modi, while sharing the meeting's images, noted that he and Kanda discussed various topics, including India's remarkable transformation over the last decade, which has empowered and uplifted millions.
Masato Kanda, who commenced his official state visit to India last week as the ADB President, remarked, "By enhancing public and private sector financing, fostering knowledge partnerships, and mobilizing capital, we are prepared to assist India in its journey to become a developed nation by 2047, ensuring inclusive, resilient, and sustainable growth for its 1.4 billion citizens.”
The ADB has reportedly partnered with more than 110 cities across 22 states on initiatives related to water supply, sanitation, housing, and solid waste management, maintaining an active urban portfolio that includes 27 loans totaling $5.15 billion.
Previously, Kanda met with Finance Minister Nirmala Sitharaman to discuss strategies for enhancing rural prosperity, expanding rooftop solar capabilities, and operationalizing the UCF.
Additionally, he met with Urban Development Minister Manohar Lal Khattar to discuss forthcoming steps for directing private investment into urban projects.
Point of View
It is essential to recognize the significance of the partnership between the Indian government and the ADB. The commitment of $10 billion for urban infrastructure not only reflects a dedication to development but also aligns with the aspirations of a rapidly growing nation. This collaboration is poised to foster inclusive growth and elevate the living standards of millions.
NationPress
22/07/2025
Frequently Asked Questions
How much is the ADB investing in Indian urban infrastructure?
The ADB is investing $10 billion in Indian urban infrastructure over a period of five years.
What are the key areas of focus for this investment?
The investment will focus on municipal infrastructure development, Metro extensions, new RRTS corridors, and the modernization of urban services.
Who did PM Modi meet with to discuss this investment?
PM Modi met with Masato Kanda, the president of the Asian Development Bank.
What is the 'Viksit Bharat' initiative?
'Viksit Bharat' is a vision for India's development by 2047, aiming for growth that is inclusive and sustainable.
Which sectors will benefit from the ADB's investment?
The sectors that will benefit include water supply, sanitation, housing, and solid waste management.
