Asian Development Bank

ADB approves $109.97 million loan to boost employability in Gujarat

Multilateral funding agency ADB on Friday said it has approved a USD 109.97 million (about Rs 927 crore) results-based loan to support Gujarat in advancing its vision of becoming a global industrial hub through a stronger, future-ready workforce. The Gujarat skills development programme, led by the state's Labour, Skill Development and Employment Department in collaboration with Kaushalya: The Skill University (KSU), aims to equip the state's workforce with industry-aligned, advanced skills that boost job readiness in high-growth sectors, ADB said in a statement. The programme will strengthen the institutional and managerial capacity of the KSU network and broaden access to high-quality, industry-relevant training courses that integrate frontier technologies, it said. Through this process, the programme aims to transform the governance and performance of the technical and vocational education and training (TVET) system in Gujarat, establishing a scalable model that can be replicated

Pak's Bilawal Bhutto called out by journalist at UN over Kashmir remark

Pakistan's former foreign minister Bilawal Bhutto Zardari was called out here by a journalist on his comments about alleged demonisation of Muslims in India. The former Pakistan foreign minister, who is leading a team of experts to inform the world about the recent conflict with India, was briefing the media about their perspective on Tuesday. During the question-answer session, Egyptian-American journalist Ahmad Fathi, UN correspondent of American Television News (ATN), asked Bilawal about his comments on India's treatment of Muslims and reminded him that it was an Indian Muslim military officer who was briefing the media during the conflict. Let me start with a statement you made today, saying that the recent terrorist attack in Kashmir is being used as a political tool to demonise Muslims in India. Sir, I have watched the briefings on both sides, and as far as I recall, there were Muslim Indian military officers who were conducting the briefing on the Indian side, Fathi said. He

India opposes ADB's $800 million aid to Pakistan, flags misuse concerns

India has raised strong objections to ADB's financial aid to Pakistan, citing concerns over cross-border terrorism, high defence spend, weak reforms, and governance risks

Asian Development Bank approves $800 million package for Pakistan

The Asian Development Bank (ADB) approved USD 800 million for Pakistan to strengthen fiscal sustainability and improve public financial management, an official said on Tuesday. Khurram Schehzad, advisor to the finance minister confirmed the development in a brief statement on social media, saying that the package includes a USD 300 million policy-based loan (PBL) and a USD 500 million programme-based guarantee (PBG). He said, ADB approves USD 800 million financing package for Pakistan under the Resource Mobilisation Reform Programme. Separately, the Philippines-based lender also confirmed the development in a statement, saying that subprogramme 2 of the Improved Resource Mobilisation and Utilisation Reform Programme includes a policy-based loan of USD 300 million, and ADB's first-ever policy-based guarantee of up to USD 500 million, which is expected to mobilise financing of up to USD 1 billion from commercial banks. Pakistan has made significant progress in improving macroeconomic

ADB announces $10 billion plan to transform India's urban infra, services

ADB President Masato Kanda announces a five-year plan aimed at transforming urban infrastructure across India; metro expansion, RRTS corridors and skills programmes in focus

ADB commits up to $4.5 billion in annual sovereign loans for India

ADB President Masato Kanda has said the bank is ready to lend India up to $4.5 bn annually, with added private sector funding, to support clean energy, rural development, and Viksit Bharat 2047 goals

No Pakistan-related issues discussed: ADB on meeting with FM Sitharaman

Finance Ministry officials also said that there was no discussion on issues related to Pakistan with ADB President and the Italian Finance Minister

Delhi govt plans to rope in ADB for improvement of water supply infra

In a step towards improving Delhi Jal Board's (DJB) water supply network, the Delhi government has in collaboration with the Asian Development Bank decided to restart work on the Wazirabad water supply improvement project, Water Minister Parvesh Verma said on Monday. He alleged that despite the ADB's readiness to invest, the previous AAP government chose not to proceed with the financial collaboration, causing unnecessary delays and derailing much-needed improvements in the city's water supply network. According to the government, originally conceptualised under the Delhi Water Supply Master Plan-2021, prepared in 2011, the project was intended to modernise Delhi's water distribution network, significantly reduce losses, and ensure 24x7 supply to critical parts of the city. The Delhi Water Supply Improvement Investment Program (DWSIIP) included upgrading outdated pipelines, introducing advanced water treatment technologies, and enhancing service delivery for citizens. The next ...

ADB revises India's FY26 growth forecast to 6.7% amid US tariff risks

Risks could 'potentially be mitigated' by trade agreement between India and the US, it says in April outlook

US tariffs risk slowing global growth significantly: ADB chief economist

US tariffs impose substantial levies on trading partners, including Southeast Asian nations, with Vietnam, Laos and Cambodia facing some of the highest rates

NaBFID in talks with ADB, WB for counter-guarantees to infra projects

DFI's loan book expected to touch Rs 3 trillion by FY28

IIFCL plans to raise about Rs 8,000 cr from borrowing during Jan-Mar qtr

State-owned India Infrastructure Finance Company Ltd (IIFCL) on Monday said it plans to raise about Rs 8,000 crore from borrowing, including from overseas institutions, during the January-March quarter. "We had planned to raise Rs 29,000 crore during the current fiscal to fund business growth of 20 per cent. Out of that 75 per cent have been mobilised in the three quarters and 25 per cent would be done during this quarter," IIFCL Managing Director PR Jaishankar said on the sidelines of 20th foundation day of the company. The company plans to raise USD 200 million through external commercial borrowing during this quarter, he said. Besides, he said, the company has finalised blended finance of USD 600 million with the Asian Development Bank and Korean Exim Bank to expand its investor base and lower the borrowing cost. First tranche of this, he said, about USD 200 million may come through this fiscal while the remaining may come in only in 2025-26. "We are in touch with ADB, World Ba

CCI allows IFC, ADB, DEC to acquire stake in Fourth Partner Energy

Fair trade regulator CCI on Tuesday cleared the World Bank's IFC, Asian Development Bank (ADB) and German government's DEG proposal to acquire a stake in Fourth Partner Energy. IFC -- a member of the World Bank Group -- is the largest global development institution focused on the private sector in emerging markets. "Commission approves the acquisition of certain shareholding of Fourth Partner Energy Pvt Ltd jointly by International Finance Corporation, Asian Development Bank and DEG - Deutsche Investitions - und Entwicklungsgesellschaft mbH," the regulator said in a post on X. Fourth Partner Energy Ltd (FEPL) is India's leading renewable energy company focusing on building and financing renewable energy projects. In August, global impact investors IFC, ADB and DEG announced an investment of USD 275 million into India's leading renewable energy solutions platform FPEL. The consortium's investment will infuse capital to fund FPEL's business expansion plans which include a target ...

India, ADB sign $500 mn loan to support green infrastructure projects

The agreement was inked on December 20 and the ADB loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance Company Limited

India, ADB ink $350 mn deal to boost logistics sector reforms & efficiency

The loan agreement, under the SMILE programme, is aimed at reforming logistics, reducing costs, boosting efficiency, promoting sustainability, and driving inclusive growth in supply chain

ADB approves $789 mn loan to develop Amaravati as smart, green city

The Asian Development Bank (ADB) has sanctioned a USD 788.8 million (over ?6,600 crore) results-based loan to Andhra Pradesh for the development of Amaravati as a green and smart capital city that offers world-class infrastructure. According to an official statement from ADB, the loan will be provided in Japanese yen, amounting to 121.97 billion yen. The Amaravati Inclusive and Sustainable Capital City Development Programme is designed to transform Amaravati into a growth hub for the region, enhancing economic prospects, providing job opportunities, and improving living conditions of the residents. ADB and other multilateral development banks (MDBs) will bring global expertise and technical support to the Government of Andhra Pradesh, establishing a strong foundation for a dynamic, sustainable, and vibrant capital city, said Mio Oka, ADB Country Director for India. We believe that Amaravati will become a replicable model for not only developing greenfield cities but also for ...

Asian Development Bank lowers India's growth forecast to 6.5% for FY25

The multilateral funding agency also revised downwards its forecast for the next financial year (FY26) to 7 per cent from 7.2 per cent estimated earlier

ADB cuts India FY25 GDP growth forecast to 6.5%, 7% in FY26 on weak demand

The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand. The multilateral development bank has also lowered India's growth forecast for 2025-26 financial year. Changes in US trade, fiscal, and immigration policies could dent growth and add to inflation in developing Asia and the Pacific, according to the latest edition of Asian Development Outlook (ADO). The report also said Asia and the Pacific's economies are projected to grow 4.9 per cent in 2024, slightly below ADB's September forecast of 5 per cent. "India's outlook is adjusted downward from 7 per cent to 6.5 per cent for this year, and from 7.2 per cent to 7 per cent next year, due to lower-than-expected growth in private investment and housing demand," ADB said. Last week, the Reserve Bank also significantly lowered the growth project

Shubham Housing raises Rs 1,000 crore in round led by Multiples PE

Shubham Housing Development Finance on Tuesday announced a Rs 1,000 crore fundraise in a round led by Multiples Private Equity. Existing investors Asian Development Bank (ADB) and British International Investment (BII) also participated in the round, which consists of a mix of primary and secondary transactions. Multiples will hold a significant minority stake in the company post-transaction. The deal comprises a primary issuance of Rs 400 crore along with a secondary purchase from early investors, the statement said. Multiples' managing director Nithya Easwaran, who will enter the company's board post deal, said the Shubham has a strong focus on asset quality and expertise in micro markets. The company, an affordable housing finance lender that provides home loans to lower-income families and emerging consumers across the country, will use the funds to drive growth across its product offerings and expand its footprint. The Gurugram-headquartered company started in 2011 and has .

Tata Power, ADB ink pact for $4.25 bn finance for key energy projects

Tata Power on Thursday said it has signed an initial pact with Asian Development Bank (ADB) to evaluate financing worth USD 4.25 billion for its several strategic projects. A memorandum of understanding has been signed with ADB at Baku, Azerbaijan, Tata Power said in a statement. "The MoU has been signed evaluate financing for its several strategic projects aimed at enhancing India's power infrastructure and promoting renewable and clean energy," it said. The total estimated project cost is about USD 4.25 billion, Tata Power said. The MoU outlines the evaluation of financing for several key ongoing projects such as the 966-MW solar wind hybrid project and pumped hydro storage project and other projects in the pipeline around energy transition, decarbonisation, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks. Tata Power CEO and Managing Director Praveer Sinha said, "Collaboration with ADB is a crucial step as we explore ...