Asian Development Bank has given approval for a $400-million policy-based loan to India

Asian Development Bank (ADB) has given approval for a $400-million policy-based loan to India.
The loan is for sub-programme 2 of the Sustainable Urban Development and Service Delivery Programme.
The aim of this programme is to provide support to the reform agenda of the government for improving the quality of urban life.
Sub-programme 1 was approved in 2021. It established national-level guidelines as well as policies to improve urban services.
Sub-programme 2 provides support to investment planning and reform steps at the urban local body (ULB) and state levels.
ADB would keep assisting the Ministry of Housing and Urban Affairs with project execution by offering knowledge and advising support.
ADB will concentrate on lower-income states since they need assistance with institutional strengthening, policy reform, and capacity building.