Asian Development Bank will direct $10 billion, including third-party capital, over the next five years into municipal infrastructure development, extending metro networks, building new Regional Rapid Transit System corridors, and modernizing city services.
FinTech BizNews Service
Mumbai, June 1, 2025: Prime Minister, Shri Narendra Modi, today, met with Mr. Masato Kanda, President of Asian Development Bank. "India’s rapid transformation over the last decade has empowered countless people and we are working to add further momentum in this journey", Shri Modi stated.
The Prime Minister posted on X :
"Had a wonderful meeting with Mr. Masato Kanda, in which we shared perspectives on a wide range of issues. India’s rapid transformation over the last decade has empowered countless people and we are working to add further momentum in this journey!"
@ADBPresident
Mr. Masato Kanda, President of Asian Development Bank, posted on X :
The Viksit Bharat 2047 vision is bold, and @ADB_HQ is supporting that ambition.
We will direct $10 billion, including third-party capital, over the next five years into municipal infrastructure development, extending metro networks, building new Regional Rapid Transit System corridors, and modernizing city services. I was pleased to convey this during my meeting with Prime Minister Narendra Modi
@narendramodi
in New Delhi. India, a founding ADB member since 1966 and our largest borrower, is a steadfast partner. By scaling up public and private sector finance, deepening knowledge collaboration, and mobilizing capital, we stand ready to support India’s drive to become a developed nation by 2047 and to deliver inclusive, resilient, and sustainable growth for its 1.4 billion people.
