Govt, ADB Sign Loans Pacts Worth $800 Million For Development Projects Across Three States
The loan agreements have been inked for projects in Maharashtra, Madhya Pradesh and Gujarat.
The government of India and the Asian Development Bank (ADB) has signed agreements for three loans worth over $800 million for projects in Maharashtra, Madhya Pradesh and Gujarat.
Accordingly, the loan agreements for the Maharashtra Power Distribution Enhancement Programme for Agricultural Solarization ($500 million), Indore Metro Rail Project (27,147,200,000 yen, equivalent to $190.6 million), and Gujarat Skills Development Programme ($109.97 million) were signed, a finance ministry statement said on Saturday.
In addition, a Technical Assistance (TA) grant of $1 million was also signed to provide implementation support for the upcoming Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project in Assam, designed to enhance the state's wetland ecosystems and fisheries.
The Maharashtra project aims to modernise rural power infrastructure, promote distributed renewable energy generation, and improve agricultural productivity by providing farmers with reliable daytime solar electricity for irrigation.
"By 2028, the programme aims to provide daytime electricity to at least 900,000 agricultural consumers. Key components include modernising Maharashtra's electricity distribution network for renewable integration, entailing upgradation of substations, installing transformers, building high- and low-tension lines, and deploying 500 MWh of battery storage," it said.
The Gujarat projects aim to equip the state's workforce with industry-aligned, advanced skills to boost job-readiness in high-growth sectors.
These sectors include logistics, automotive, manufacturing, information technology, renewable energy, healthcare and agri-tech. Led by the state's Labour, Skill Development and Employment Department, it added.
