New Delhi: The government of India has formalised a major financing package with the Asian Development Bank (ADB), signing five loan agreements amounting to more than USD2.2 billion to support a wide range of development initiatives across the country. The funding will strengthen national priority programmes in skill development and rooftop solar deployment, while also backing projects in healthcare, urban transport, and sustainable tourism across three states.
The process of finalising the loans was co-ordinated by the Department of Economic Affairs under the supervision of Baldeo Purushartha, Joint Secretary (ADB & Japan). The agreements were executed on behalf of the government of India by Saurabh Singh, Deputy Secretary, Department of Economic Affairs, Ministry of Finance. ADB was represented by Aarti Mehra, Officer-in-Charge and Deputy Country Director at the India Resident Mission.
The financing package covers five distinct projects. These include the Supporting Pradhan Mantri Skilling and Employability Transformation through Upgraded Industrial Training Institutes Programme with an allocation of USD846 million; the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Programme (Subprogramme 1) valued at USD650 million; the Assam State Tertiary Health Care Augmentation Project with funding of USD398.8 million; the Chennai Metro Rail Investment Project (Tranche 2) supported by USD240 million; and the Integrated Ecotourism and Sustainable Agri-based Livelihood Development in Meghalaya Project with financing of USD77 million, according to a government release.
Under the skilling initiative, ADB support will focus on building a future-ready workforce aligned with India’s manufacturing and emerging technology needs. The programme will modernise 650 Industrial Training Institutes across 12 states and upgrade five National Skill Training Institutes into advanced centres for trainer development. These reforms are expected to expand access to industry-relevant courses in high-growth areas such as renewable energy, electric mobility, and advanced manufacturing, enhancing employment prospects for at least 1.3 million young people.
The rooftop solar programme will reinforce the Pradhan Mantri Surya Ghar: Muft Bijli Yojana and aims to accelerate nationwide adoption of residential solar systems. The initiative targets the provision of clean and affordable energy to 10 million households by 2027. Key measures include standardising technical guidelines for rooftop solar installations and enabling wider uptake among low- and middle-income households through collateral-free loans offered at reduced interest rates.
In Assam, the ASTHA project seeks to strengthen tertiary healthcare services and address longstanding capacity gaps in the state’s medical system. The initiative will modernise medical colleges in Guwahati, Dibrugarh, and Silchar, upgrading them as centres of excellence under the Srimanta Sankaradeva University of Health Sciences, while also improving healthcare delivery and medical education infrastructure.
The second tranche of financing for the Chennai Metro Rail Investment Project will facilitate the expansion of the city’s metro network across strategic stretches of three lines. The project includes the development of approximately 20 kilometres of elevated and underground corridors and the construction of 18 new stations. These stations will incorporate universal accessibility features and climate-resilient design elements to ensure safety and continuity of services during extreme weather conditions.
In Meghalaya, the ecotourism and livelihood project will support the state’s ambition to position itself as a leading ecotourism destination while simultaneously enhancing rural incomes. By combining nature-based tourism with climate-smart agriculture and forest conservation practices, the project is expected to generate sustainable livelihood opportunities for more than 8,000 local beneficiaries, with a strong focus on women and indigenous communities.
