The Asian Development Bank (ADB) has launched its new country partnership strategy for India, placing emphasis on supporting India’s objectives for inclusive and resilient economic growth that will tackle structural transformation, job creation, climate change, social and economic inclusiveness. Between 2023-2027, ADB operations will focus on deepening its partnership with the country, supporting India’s national flagship programs, promoting climate-resilient growth, and aiding social and economic inclusiveness. ADB will implement differentiated approaches according to the development status of the states to maximise value addition through knowledge solutions, technical assistance and capacity building with its partner agencies.
ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific and has been a committed partner of India for a long time. As of the end of December 2022, ADB had committed $52.6 billion in grants, loans and technical assistance and $8 billion in private sector investments.
ADB Country Director for India Takeo Konishi confirms that the new strategy has been developed after comprehensive consultations with government counterparts, private sector and other in-country stakeholders and aims to help India achieve a higher growth trajectory. The bank’s support will also enable urban areas to unlock their potential as engines of growth, promote industrial competitiveness, and create more jobs in formal manufacturing and services sectors. ADB Principal Country Specialist Rajesh Vasudevan confirms that strategic partnerships have been set with lower-income states to develop critical infrastructure, basic services, institutional capacity, private sector and while interventions for the developed states will focus on transformational projects, nonsovereign operations, knowledge, and policy advice.
