ADB’s Vision for 2047 includes $10 Billion Urban Makeover for India
India’s urban landscape is bracing for a transformational leap, and leading the charge is the Asian Development Bank (ADB), which has just pledged up to $10 billion of project finance investment over the next five years.
This ambitious urban overhaul comes with a sweeping plan: from cutting-edge metro expansions and rapid transit systems to inclusive housing, cleaner water, and robust sanitation. The ultimate goal? To power India’s cities into engines of economic growth while paving the road to “Viksit Bharat @ 2047.”
“Cities are engines of growth,” declared ADB President Masatsugu Asakawa after a high-level meeting with Indian Prime Minister Narendra Modi. “ADB will mobilise capital, accelerate delivery, and scale solutions that keep India’s urban economy moving and people thriving on the road to Viksit Bharat @ 2047.”
A Holistic, Multi-Layered Investment Strategy
The ADB’s plan isn’t just a government loan scheme. It blends sovereign lending, third-party capital, and private sector investment. At the heart of the strategy is India’s Urban Challenge Fund (UCF), a flagship programme designed to pull private capital into essential urban infrastructure projects.
Backed by detailed studies on urban growth hubs, creative city redevelopment, and essential utilities upgrades in over 100 cities, the UCF is already gaining traction. To kick things off, ADB has committed $3 million in technical assistance to help design viable, investment-ready projects and build institutional capacity across states and urban local bodies.
Public Transport Gets a Major Boost
A chunk of the investment will steer directly into India’s creaking urban transit networks. Over the past decade alone, ADB has poured $4 billion into metro rail and regional rapid transit systems (RRTS) that span 300 kilometres across eight cities—including the high-profile Delhi–Meerut RRTS, and the metros in Mumbai, Nagpur, Chennai, and Bengaluru.
The benefits? Not just fewer traffic snarls and emissions, but more access for the vulnerable, including persons with disabilities. These initiatives dovetail with the Indian government’s broader strategy of creating cleaner, faster, and more inclusive mobility solutions.
Fast-Tracking Rooftop Solar and Green Energy
In his visit, President Kanda also held discussions with India’s Finance Minister Nirmala Sitharaman. The agenda included not just metro expansions and transit-oriented development (TOD), but also a drive to scale up rooftop solar infrastructure and bolster rural prosperity.
In Gurugram, Kanda met with executives from ReNew, one of India’s leading renewable energy companies, to explore stronger collaborations. The message was clear: urban growth must go hand-in-hand with a green energy transition.
Driving Skills and Employment through Industrial Training
Recognising the pivotal role of youth in India’s growth story, ADB will also inject funds into the National Industrial Training Institute Upgradation Programme. This initiative will arm young Indians with practical skills, support the expanding manufacturing base, and foster job creation.
By targeting training, the initiative seeks to bridge the gap between formal education and market needs, aligning perfectly with India’s industrial ambitions.
Catalysing Private Sector Dynamism
ADB is banking on India’s private sector to be more than just a co-funder—it wants it to be a growth engine. In a roundtable with top executives across infrastructure, finance, agriculture, and the social sector, Kanda emphasised that the private sector’s energy and scale are critical to sustaining momentum.
“India’s private sector can provide the scale and dynamism needed to drive India’s growth,” he said. The conversation spanned a range of partnership opportunities, from building smart cities to financing infrastructure and accelerating digital innovations.
Lessons from Delhi–Meerut
One of the trip’s highlights was Kanda’s stopover at the Delhi–Meerut RRTS, India’s first of its kind. While there, he spoke with women who had received training as part of the project and are now actively engaged in the workforce—proof that infrastructure can be a platform for inclusive development.
The corridor serves as a living example of how strategic infrastructure investment can produce cascading benefits—from boosting regional economies to enhancing gender equity.
Long-Term Commitment to India
ADB’s history in India stretches back nearly four decades. Since its first operation in 1986, it has committed a whopping $59.5 billion in sovereign loans and $9.1 billion in non-sovereign investments. As of April 2025, the active portfolio includes 81 sovereign loans totalling $16.5 billion.
Under its current country partnership strategy (2023–2027), ADB is prepared to funnel over $5 billion annually into India—including around $1 billion every year in non-sovereign projects to stimulate additional private investment.
A Model for Asia and Beyond
Founded in 1966, ADB now boasts 69 member countries, including 50 from the Asia-Pacific region. Over the years, the bank has evolved into a key player in shaping resilient, inclusive, and sustainable growth across the region.
By harnessing innovative financing tools, providing policy advice, and building strategic alliances, ADB continues to demonstrate that development banking can be a powerful force for good. Its partnership with India is fast becoming a template for sustainable urban transformation.
Moving Forward with Purpose
This $10 billion urban transformation blueprint is more than a financial pledge—it’s a signal of intent. ADB is not merely investing in roads, rails, and rooftops; it’s investing in people, communities, and futures.
By combining infrastructure upgrades, private sector dynamism, green initiatives, and social empowerment, India’s cities are being prepped not just for 2030—but for a visionary leap into 2047. The road ahead might be long, but with strategic partnerships like this, the journey looks not just promising, but profoundly transformative.
