ADB approves $1 billion loan for India's urban development

The Asian Development Bank (ADB) has approved a $1 billion loan to support India’s urban reform agenda under the Urban Transformation and Investment Programme. The financing will bolster the Urban Challenge Fund, strengthen municipal institutions, improve integrated economic and spatial planning, and expand market‑based financing such as municipal bonds. ADB also approved an additional $85 million credit to fund large‑scale rooftop solar installations, aiming to increase affordable clean energy for households.

ADB Country Director Miyo Oka said the loan will help Indian cities play a decisive role in the country’s goal of becoming a fully developed nation by 2047, noting that cities already generate about 70 % of new jobs and roughly 63 % of GDP, a share expected to rise to 75 % by 2030. The programme includes technical assistance and digital system upgrades to enhance transparency and evidence‑based decision‑making in urban administration.