Financing to support skilling, rooftop solar, healthcare, metro rail expansion and ecotourism across multiple states
NEW DELHI: The Government of India and the Asian Development Bank (ADB) on Tuesday signed agreements for five loans totaling over $2.2 billion (₹19,836.62 crore) to support key development projects across the country.
The financing will advance initiatives under India’s national flagship programmes in skill development and rooftop solar deployment, along with projects supporting healthcare infrastructure, metro rail expansion and ecotourism promotion across three states.
The Government of India’s engagement with ADB for the finalisation of the loans was undertaken under the guidance of Baldeo Purushartha, Joint Secretary (ADB & Japan), Department of Economic Affairs.
Accordingly, the loan agreements were signed by Saurabh Singh, Deputy Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India, and Aarti Mehra, Officer-in-Charge and Deputy Country Director, India Resident Mission, on behalf of ADB.
Details of the Signed Projects
The signed loan agreements cover the following projects:
- Supporting Pradhan Mantri Skilling and Employability Transformation through Upgraded Industrial Training Institutes Programme – $846 million
- Accelerating Affordable and Inclusive Rooftop Solar Systems Development Programme (Subprogramme 1) – $650 million
- Assam State Tertiary Health Care Augmentation Project (ASTHA) – $398.8 million
- Chennai Metro Rail Investment Project (Tranche 2) – $240 million
- Integrated Ecotourism and Sustainable Agri-based Livelihood Development in Meghalaya Project – $77 million
Boost to Skill Development and Employability
ADB financing for the Pradhan Mantri Skilling and Employability Transformation Programme aims to create a future-ready workforce for India’s manufacturing and emerging technology sectors.
The programme will modernise 650 Industrial Training Institutes (ITIs) across 12 states and upgrade five National Skill Training Institutes into centres of excellence for advanced trainer development. These efforts are expected to deliver demand-driven courses in high-growth sectors such as renewable energy, electric mobility and advanced manufacturing, improving employability for at least 1.3 million youth.
Accelerating Rooftop Solar Adoption
The Accelerating Affordable and Inclusive Rooftop Solar Systems Development Programme will support the Pradhan Mantri Surya Ghar: Muft Bijli Yojana (PMSGMBY), which aims to expand access to clean and affordable energy for 10 million households by 2027.
The programme will promote rooftop solar adoption through reforms focused on uniform guidelines and standards for residential systems, along with collateral-free, low-interest financing to encourage participation by low- and middle-income households.
Strengthening Healthcare Infrastructure in Assam
The Assam State Tertiary Health Care Augmentation Project seeks to address critical gaps in the state’s healthcare system by modernising tertiary healthcare services and medical education.
The project includes the upgradation of medical colleges in Guwahati, Dibrugarh and Silchar, which will be developed as centres of excellence under the Srimanta Sankaradeva University of Health Sciences.
Expanding Chennai Metro Rail Network
The second tranche of the Chennai Metro Rail Investment Project will support the expansion of the metro network along key sections of three metro lines, covering 20 km of elevated and underground corridors and 18 new stations.
These stations will feature universal access and climate-resilient infrastructure to ensure passenger safety and service continuity during extreme weather events.
Promoting Sustainable Livelihoods and Ecotourism in Meghalaya
The Integrated Ecotourism and Sustainable Agri-based Livelihood Development in Meghalaya Project will support the state’s vision of becoming a leading ecotourism destination while enhancing farmers’ incomes.
By integrating nature-based tourism, climate-smart agriculture and forest conservation, the project is expected to create economic opportunities for over 8,000 local beneficiaries, including women and indigenous communities.
