India and the Asian Development Bank (ADB) have inked a $400 million policy-based loan accord aimed at fostering high-quality urban infrastructure, enhancing service delivery, and endorsing efficient governance systems. The initiative, part of a broader program, incorporates integrated planning reforms to manage urban expansion systematically and encourage planned urbanization. The sub-programme 1, launched in 2021 with a $350 million funding, laid the foundation for national-level policies to enhance urban services. Sub-programme 2, supported by the recent agreement, focuses on investment planning and reform actions at the state and urban local body levels. The comprehensive strategy includes legal, regulatory, and institutional reforms to create a conducive urban ecosystem. This initiative aligns with the government’s strategy to develop livable cities and economic growth centers with inclusive, resilient, and sustainable infrastructure. The agreement emphasizes reforms under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0, concentrating on universal access to water supply and sanitation. The integrated planning approach aims to enhance urban environments, ensure climate and disaster resilience, and boost cities’ financial sustainability by generating additional revenues. Cities are encouraged to become creditworthy through reforms that enhance revenues, improve efficiency, and rationalize expenditures. The unified Gulf tourist visa is a project that will contribute to facilitating and streamlining the movement of residents and tourists between the six GCC countries and will undoubtedly have a positive impact on the economic and tourist sectors.
India, ADB sign $400-million loan pact to create urban infra
