ADB commits $7 bn as loans, grants and co-finance for Indian projects in 2024
In 2024, ADB provided a $794.8 million loan and mobilized $800 million in co-financing to help make the Amaravati vision a reality
Chennai: Asian Development Bank has committed loans and grants of around $5 billion for Indian projects, while co-financing another $2 billion.
Among the major commitments, $4.251 billion will be sovereign loans and grants, $575 million non-sovereign loans and grants, $2.048 will be co-finance for different projects, totaling $7.261 billion.
The largest commitment of $794 million is for Amaravati Inclusive and Sustainable Capital City Development Programme. The programme will help ensure the application of best practices in developing sustainable infrastructure and green spaces, water and sanitation services, low-carbon public transport, and drainage systems to mitigate flood risks.
ADB also committed two non-sovereign loans of $43.3 million to expand electric bus (e-bus) services in Haryana and Odisha states.
ADB provided $500 million to support Maharashtra’s state government in creating a modern and holistic health care and medical education system. The financing will help construct four medical colleges alongside new tertiary teaching hospitals in four underserved districts, increasing hospital capacity by 2,000 beds and recruiting at least 500 new doctors.
Through a $64 million loan, the bank is supporting infrastructure upgrades to 65 secondary schools and 10 industrial training institutes and the establishment of a skills and innovation hub in Shillong.
ADB committed a $100 million non-sovereign loan package for SK Finance Limited (SKF) that includes up to $80 million for providing loans to MSMEs.