Masato Kanda, President of Manila (the Philippines) based Asian Development Bank (ADB) was on his 1st official visit to India from May 28 to May 31, 2025.
- During his visit to India, he held a bilateral meeting with Prime Minister (PM) Narendra Modi in New Delhi, Delhi.
- During the meeting, Masato Kanda reaffirmed ADB’s support for India’s ambition of becoming a developed nation by 2047.
ADB President Announced USD 10 billion Plan for India’s Urban Transformation:
During his visit to India, ADB President Masato Kanda announced USD 10 billion, aimed at transforming urban infrastructure including metro extension, new Regional Rapid Transit system (RRTS) across India in the next 5 years.
- This new urban transformation plan includes sovereign loans, private sector financing and 3rd party capital.
- The initiative is spearheaded by India’s flagship Urban Challenge Fund (UCF), which receives the support of ADB to attract private investment for urban infrastructure.
Key Investments Pledged by ADB:
i.Analytical work on growth hubs, creative city redevelopment, and upgradation of water and sanitation in 100 Indian cities are laying the groundwork for the UCF.
ii.ADB is pledging USD 3 million in technical assistance to design bankable projects and bolster the capacity of states and urban local bodies (ULBs).
- As per estimates, Over 40% of Indian population is projected to live in urban areas of the country by 2030.
iii.At present, ADB is engaged in 110 cities across 22 Indian states, with 27 ongoing loans worth USD 5.15 billion focusing on water supply, sanitation, housing and waste management.
iv.Over the last 10 years, ABD has pledged USD 4 billion for metro and RRTS covering 300 kilometres (kms) in 8 Indian cities: Delhi-Meerut (Uttar Pradesh, UP), Mumbai (Maharashtra), Nagpur (Maharashtra), Chennai (Tamil Nadu, TN) and Bengaluru (Karnataka).
- These projects aim to reduce traffic, mitigate pollution, and enhance mobility.
v.ADB will also invest in skills development under the National Industrial Training Institute Upgradation Program, aimed to accelerate manufacturing, foster private sector growth, and generate employment.
vi.Also, ADB plans to facilitate more than USD 5 billion in annual assistance, including USD 1 billion for non-sovereign projects, under its 2023-2027 country partnership strategy for India.
Points to Note:
i.As of April 2025, ADB has committed USD 59.5 billion in sovereign lending and USD 9.1 billion in non-sovereign investments.
ii.The active sovereign portfolio includes 81 loans worth USD 16.5 billion (as of April 2025).
ADB President Visited India’s 1st Namo Bharat Corridor
ADB President visited India’s 1st Namo Bharat Corridor during his 1st official visit to the country. He was accompanied by a delegation of National Capital Region Transport Corporation (NCRTC) led by Shalabh Goel, Managing Director (MD) of NCRTC, and other senior officials.
- He travelled on a Namo Bharat train from Sahibabad to Duhai Depot station in Ghaziabad district of Uttar Pradesh (UP), experiencing first-hand the speed, comfort, and commuter-centric features of the next-generation regional rail system.
ADB President Kanda Visits ReNew Power to Reinforce USD5.3 billion Partnership Driving India’s Clean Energy Transition
Gurugram (Haryana)-based ReNew Energy Global PLC (ReNew), a leading renewable energy (RE) company focused on climate action hosted President of ADB Masato Kanda and Chairperson of its Board of Directors (BoDs), Sumant Sinha.
- This visit underscored ADB’s expanding commitment to India’s clean energy transition.
- During his visit at ReNew, Kanda met Sumant Sinha, Founder, Chairman and Chief Executive Officer (CEO) of ReNEW and Vaishali Nigam Sinha, Co-founder and Chairperson of Sustainability.
Key Points:
i.The discussions were primarily focused on their ongoing collaboration, led by a significant USD 5.3 billion framework agreement to jointly develop and finance climate mitigation and adaptation projects in India.
ii.Some of the key issues addressed during the meeting included: the demand for firm and flexible green power, the changing role of carbon markets and nature-based solutions, enhancing local manufacturing, and driving advancements in energy storage, green hydrogen, and sustainable supply chains.
Tripura to Receive USD 85.4 Million from ADB for Green-makeover with focus on EVs and Solar Power:
The state government of Tripura will get USD 85.4 million loan from ADB to support a major green upgrade in the state. The key focus areas of the project are: Electric Vehicles (EVs), solar energy, and modern urban systems.
- This project is in alignment with India’s climate targets which aims for a new era of sustainable transport, clean energy, and smarter cities.
- The project will be implemented by the Urban Development Department of Tripura with the support of ADB. Also, ADB will provide technical assistance like: digital tools to monitor progress, training for officials, and public outreach.
Key Details:
i.The project also focuses on gender equality, thereby minimum 30% of green jobs will be reserved for women.
- Also, at least 300 square meter (sq. meters) of land in each estate will be reserved for women-led enterprises.
Implementation of the Project:
i.The project will be implemented by the Urban Development Department of Tripura with the support of ADB.
- ADB will also provide technical assistance like: digital tools to monitor progress, training for officials, and public outreach.
ii.The 1st phase of the project starts in early 2026 and focuses on EVs and solar rooftops. The complete project will run for period of 5 years with ongoing reviews to ensure targets are met.
ADB Withdraws Loan worth USD 434.25 Million for Assam Solar Power Project:
The ADB withdrew USD 434.25 million loan to a proposed 1000 MegaWatt (MW) Solar Park in Karbi Anglong Autonomous Council in Assam, following a request from the Ministry of Finance (MoF) of Government of India (GoI).
- The main reason for the withdrawal of the project was the opposition of local Karbi, Naga, Kachari and Adivasi communities against the land diversion to the project, citing displacement of 24 villages in the project area.
About the 100MW Solar Project:
i.In October 2024, ADB approved USD 434.25 million loan for the project valued at USD 672.68 million.
- Apart from it, ADB had also approved USD 1 million as Technical Assistance (TA) from the Clean Energy Fund under the Clean Energy Financing Partnership Facility to guide Assam Power Development Corporation Limited (APDCL), the state-government owned company.
ii.The solar project was proposed as a part of the Assam government’s flagship ‘Mukhya Mantri Soura Shakti Prokolpo’ scheme, aimed to divert 2,396.5 hectares (ha) or 18,000 land near Khatkhati in Karbi Anglong that shares its border with the state of Nagaland.
About Asian Development Bank(ADB):
President– Masato Kanda (Japan)
Headquarters– Mandaluyong City, Manila, the Philippines
Members Nations- 69 (50 members nations are from Asia-Pacific region)
Established– 1966
