ADB, NaBFID partner for India’s infrastructure

By Nada Ali On Dec 11, 2024

The Asian Development Bank (ADB) and India’s National Bank for Financing Infrastructure Development (NaBFID) have signed a letter of intent (LOI) to strengthen their partnership in funding India’s infrastructure projects.

ADB and NaBFID signed the LOI in Manila on December 5, 2024, to promote climate resilience and improve urban and rural infrastructure, environmental sustainability, and public and private investment.

ADB will provide NaBFID with a technical assistance grant to enhance its capacity and build climate finance capability to address India’s infrastructure financing gap, according to its statement.

Additional support will include lines of credit for private sector investments to cofinance urban infrastructure and innovative projects that promote sustainable and inclusive growth in India.

Attribution: The Asian Development Bank report

Subediting: M. S. Salama

ADB Asian Development Bank Asian Development Bank (ADB)environmental sustainability India India's infrastructure financing gap India's infrastructure projects India's National Bank for Financing Infrastructure Development (NaBFID)