The Asian Development Bank (ADB) plans to raise its annual lending to India to a maximum of $4 billion to support the country to accelerate inclusive economic transformation toward upper middle-income status, as laid out in a new ADB Country Partnership Strategy (CPS) for 2018-2022 endorsed today.

ADB's program in India will focus on three main pillars of activity during the 5-year period—boosting economic competitiveness to create more and well-paid jobs, improved access to infrastructure and services, and addressing climate change and improving climate resilience. About 85% of lending will be focused on transport, energy, and urban infrastructure and services. Other finance will be aimed at public sector management, agriculture, natural resources and rural development, as well as skills development and urban health.

The planned lending level, which includes private sector operations, compares with an average of $2.65 billion a year in loans extended in the period 2012-2016. It will be complemented by technical assistance to help undertake strategic studies, build capacities, and prepare projects, increasing from the current average of $6.6 million in 2013-2016. ADB will also explore cofinancing opportunities, including climate funds for relevant projects.

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