Centre, ADB Sign Loans Worth $800 Million For Various Development Projects

(MENAFN- IANS) New Delhi, Nov 29 (IANS) The government on Saturday said it has signed agreements with the Asian Development Bank (ADB) for three loans worth over $800 million for projects in Maharashtra, Madhya Pradesh and Gujarat, along with a Technical Assistance grant of $1 million in Assam.

Loan agreements were signed for the Maharashtra Power Distribution Enhancement Programme for Agricultural Solarisation ($500 million); Indore Metro Rail Project ($190.6 million), Gujarat Skills Development Programme ($109.97 million), and a Technical Assistance (TA) grant of $1 million for the upcoming Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project in Assam.

In Maharashtra, the $500 million ADB-supported programme 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.

According to a Finance Ministry statement, the programme aims to provide daytime electricity to at least 900,000 agricultural consumers by 2028.

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.

The Japanese Yen-denominated loan ($190.6 million) for the Indore Metro Project will finance the construction of 8.62-km underground Metro line with seven stations, connecting congested areas of Indore to the airport.

The project includes multimodal integration with existing bus and feeder services, improving access to educational institutions and markets. The Madhya Pradesh Metro Rail Corporation Limited will implement the project, with operations expected to begin by January 2030.

The $109.97 million Skills Development Programme in Gujarat aims to equip the state's workforce with industry-aligned, advanced skills that 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 in collaboration with Kaushalya: The Skill University (KSU), the programme will help upgrade 11 mega ITIs, establishing centres of excellence and partnering with affiliated private training providers through a hub-and-spoke model anchored by KSU.

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