During the meeting, the ADB chief pledged a substantial investment of $10 billion over the next five years to support the country’s urban infrastructure development. As per ADB’s official statement, the investment will focus on key areas such as municipal infrastructure upgrades, metro rail expansions, new regional rapid transit system (RRTS) corridors, and the modernisation of urban services across the country.
President Kanda also expressed the bank’s commitment to Prime Minister Modi’s ‘Viksit Bharat 2047’ vision, calling it a “bold ambition.” “The Viksit Bharat 2047 vision is bold, and the ADB is supporting that ambition,” he said, in a post on X.
PM Modi and President Kanda exchanged views on a wide range of topics, including India’s rapid transformation over the past decade, marked by empowerment and upliftment across various sectors. Currently on his official visit to India following his appointment as ADB chief, President Kanda added, “By scaling up public and private sector finance, deepening knowledge collaboration, and mobilising 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.”
In India, ADB has already partnered with over 110 cities across 22 states, supporting projects in areas such as water supply, sanitation, housing, and solid waste management. Its current urban portfolio includes 27 active loans worth $5.15 billion.
Earlier during his visit, the ADB president also held meetings with Finance Minister Nirmala Sitharaman and Urban Development Minister Manohar Lal Khattar. Discussions with the finance minister focused on rural prosperity initiatives, scaling rooftop solar capacity, and operationalising the Urban Climate Financing (UCF) facility. With the urban development minister, President Kanda reviewed strategies for mobilising private capital in future urban projects.
