The Government and the Asian Development Bank (ADB) have signed three loan agreements worth over 800 million US dollars for projects in Maharashtra, Madhya Pradesh and Gujarat. They include loan agreement worth 500 million US dollars for the Maharashtra Power Distribution Enhancement Programme for Agricultural Solarization, over 190 million US dollars Indore Metro Rail Project and loan agreement of around 110 million US dollars for Gujarat Skills Development Programme.
These agreements were signed yesterday by Deputy Secretary, Department of Economic Affairs, Saurabh Singh and Country Director, India Resident Mission,Mio Oka. on behalf of ADB. Ministry of Finance in a statement said that in addition, a Technical Assistance grant of one million dollar was also signed to provide implementation support for the upcoming Sustainable Wetland and Integrated Fisheries Transformation Project in Assam.
In Maharashtra, ADB-supported programme aims to modernise rural power infrastructure, promote distributed renewable energy generation, and improve agricultural productivity. The agreement for Indore Metro Project will finance construction of 8.62 kilometer underground metro line with seven stations, connecting congested areas of Indore to the airport. The Skill Development Programme in Gujarat aims to equip the State’s workforce with industry-aligned, advanced skills that boost job readiness in high-growth sectors.
