ADB offers $25-bn green infra financing to India

The President of the Asian Development Bank (ADB), Masatsugu Asakawa, recently met with the Indian Prime Minister to offer $25 billion over the next five years to support India's goal of building green infrastructure projects. As part of the green growth agenda, the ADB's India programme aims to assist the country in fulfilling its global climate action commitments. Specifically, the ADB will concentrate on supporting the decarbonisation of transport and the transition to clean energy, which includes the development of carbon markets and the transition to a circular economy.

The ADB President expressed his commitment to providing support to India's infrastructure and social development, as well as its climate action efforts. He emphasised the need to increase ADB assistance to meet the country's priority development requirements and discussed the ADB's Country Partnership Strategy (CPS) for India, which is set to span from 2023 to 2027.