Last Updated:
The Government of India and the Asian Development Bank (ADB) have approved three major funding rounds of more than $800 million for Maharashtra, Madhya Pradesh and Gujarat. These projects include agricultural solarization, Indore Metro and Gujarat’s new skill development model. Along with this, a technical grant has also been given for the improvement of wetland and fishery of Assam. The focus of these projects is to improve power infrastructure, increase connectivity in cities and prepare youth for future jobs.
New Delhi. The Government of India and the Asian Development Bank ADB have together signed three major agreements worth more than $800 million. This fund will be given to such projects going on in Maharashtra, Madhya Pradesh and Gujarat which will have a direct impact on electricity, transport and skill development. The Finance Ministry confirmed this on Saturday.
The Joint Secretary of the Department of Economic Affairs took over the responsibility of negotiations and finalizing the documents on behalf of the Government of India. These agreements were officially signed by Deputy Secretary Saurabh Singh on behalf of India and Mio Oka, Country Director of India Resident Mission on behalf of ADB.
Solarization and rural electricity reforms for Maharashtra
ADB’s $500 million program in Maharashtra will be used to completely upgrade the rural power infrastructure. The goal is to provide solar electricity to farmers continuously during the day during irrigation and to increase the productivity of farming. By the year 2028, the plan is that at least 900000 agricultural consumers can get electricity during the day. Under this, substations will be upgraded, new lines will be constructed and a battery storage system with 500 MWh capacity will also be installed.
Indore Metro gets new funds
A loan in Japanese Yen equivalent to 190.6 million dollars has been given for Indore. It will be used to build an 8.62 km long underground metro line which will have seven stations. This line will directly connect the crowded parts of the city to the airport and will also interconnect with bus and feeder services. Madhya Pradesh Metro Rail Corporation Limited will operate it and the metro is expected to start by 2030.
New skill model for youth in Gujarat
Gujarat has received funding of $ 109.97 million, which aims to provide skills to the youth of the state through which they can get immediate employment in fast-growing sectors like logistics, auto, IT, health, agri tech and manufacturing.
This program will be run by the State Labor and Skills Department in collaboration with Kaushalya University. Under this, 11 mega ITIs will be upgraded and many centers of excellence will also be created. ADB has also provided technical assistance of $1 million for wetland and fishery improvement in Assam, which will improve water-based ecosystems and fisheries in the state.
