New Delhi : The Government of India and the Asian Development Bank (ADB) yesterday signed agreements for three loans totaling over $800 million to support major development projects in Maharashtra, Madhya Pradesh, and Gujarat.
The loan agreements were facilitated under the guidance of the Joint Secretary (ADB & Japan), Department of Economic Affairs. The agreements were signed by Shri Saurabh Singh, Deputy Secretary, Department of Economic Affairs, on behalf of India, and Ms. Mio Oka, Country Director, ADB India Resident Mission, representing the bank.
The loans include:
-
Maharashtra Power Distribution Enhancement Programme for Agricultural Solarization – $500 million, aimed at modernizing rural power infrastructure, promoting renewable energy, and providing reliable daytime electricity to farmers for irrigation. By 2028, the programme is expected to reach 900,000 agricultural consumers, including upgrading substations, installing transformers, constructing high- and low-tension lines, and deploying 500 MWh of battery storage.
-
Indore Metro Rail Project, Madhya Pradesh – ¥27,147,200,000 (approx. $190.6 million), financing the construction of an 8.62-km underground metro line with seven stations, connecting congested areas of Indore to the airport. The project includes multimodal integration with bus and feeder services, improving access to schools, markets, and public transport. Operations are expected to commence by January 2030, implemented by the Madhya Pradesh Metro Rail Corporation Limited.
-
Gujarat Skills Development Programme – $109.97 million, focused on equipping the state’s workforce with industry-aligned skills for high-growth sectors such as logistics, automotive, IT, manufacturing, renewable energy, healthcare, and agri-tech. The programme, led by the state’s Labour, Skill Development and Employment Department in collaboration with Kaushalya: The Skill University (KSU), will upgrade 11 mega ITIs, establish centres of excellence, and partner with private training providers. Courses will be designed in close consultation with industry to ensure job readiness.
Additionally, a $1 million Technical Assistance (TA) grant was signed to support the Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project in Assam, aimed at enhancing wetland ecosystems and fisheries management in the state.
These agreements reflect India’s continued collaboration with ADB to drive infrastructure modernization, sustainable energy, urban mobility, and skill development, supporting long-term economic growth and employment generation.