ADB President meets PM Modi, says lender will pump USD10 bn into India for infra projects

Asian Development Bank (ADB) President Masato Kanda today met Prime Minister Narendra Modi, during which he described the Viksit Bharat 2047 vision as "bold" and added that the global lender will support the vision by pumping $10 billion over the next five years into infrastructure development in India.

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During the meeting, PM Modi said that India's rapid transformation over the last decade has empowered countless people.

In a post on X, the PM said: "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!”

The ADB President in a post on X said:

“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.