PM Modi meets ADB president Masato Kanda

Asian Development Bank (ADB) President Masato Kanda meets Prime Minister Narendra Modi, in New Delhi, on May 31, 2025. Kanda concluded his three-day visit to India by announcing a $10 billion plan over five years to support India’s urban transformation, including metro extensions, regional rapid transit systems, and urban infrastructure. | Photo Credit: PTI

Prime Minister Narendra Modi met Asian Development Bank (ADB) President Masato Kanda and said his government was working to add further momentum to India's rapid transformation over the last decade.

In his post on X, Mr. Kanda said his organisation is supporting India's ambition of a 'Viksit Bharat' by 2047, describing it as a bold vision.

"We will direct USD 10 billion, including third-party capital, over the next five years into municipal infrastructure development, extending metro networks, building new Regional Rapid Transit System corridors, and modernising city services," he said.

India, a founding ADB member since 1966 and its largest borrower, is a steadfast partner, Kanda noted.

He added, "By scaling up public and private sector finance, deepening knowledge collaboration, and mobilizing capital, we stand ready to support India's drive to become a developed nation by 2047 and to deliver inclusive, resilient, and sustainable growth for its 1.4 billion people." Mr. Modi replied, "Had a wonderful meeting with Mr Masato Kanda, in which we shared perspectives on a wide range of issues. India's rapid transformation over the last decade has empowered countless people and we are working to add further momentum to this journey!"

Published - June 01, 2025 04:36 pm IST