Overview

• ADB President Masato Kanda unveiled the $10 billion urban plan after meeting Prime Minister Narendra Modi to bolster India’s Viksit Bharat 2047 vision.
• Analytical studies in 100 cities have identified growth hubs, slum redevelopment opportunities and water and sanitation upgrades to seed projects under the Urban Challenge Fund.
• The bank will allocate $3 million in technical assistance to help states and urban local bodies design bankable projects and enhance institutional capacity.
• India’s urban population is projected to surpass 40% by 2030, intensifying demand for modern infrastructure and services in fast-growing cities.
• ADB’s existing urban portfolio covers more than 110 cities across 22 states, includes $4 billion invested in metro and RRTS corridors spanning 300 km and supports vocational training through the National Industrial Training Institute Upgradation Programme.