ADB President meets PM, proposes $25 bn for India's development priorities

Asian Development Bank President Masatsugu Asakawa on Tuesday called on Prime Minister Narendra Modi and conveyed ADB's intention to provide USD 20-25 billion resources over five years to advance India's aspirations for fast, inclusive, and green growth.

In a release, the Manila-based multilateral lending agency said its President in his meeting with the Prime Minister discussed a range of issues, including ADB support to India's infrastructure and social development and climate actions.

ADB is now finalising the new five-year country partnership strategy (CPS) for India following a comprehensive stakeholder consultation process.

ADB will provide multifaceted support for India's key priorities, including the important infrastructure push under the PM's Gati Shakti (National Master Plan for multimodal connectivity) initiative, building future cities, mobilizing domestic resources, and strengthening basic services in disadvantaged districts," Asakawa said.

He also congratulated Modi