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01/06/23 06:19 AM IST

ADB launches India strategy for 2023-27

In News
  • The Asian Development Bank (ADB) recently rolled out its 2023-27 country partnership strategy for India.
About Strategy plan
The Manila-headquartered multilateral bank said it is focussed on deepening its engagement with the country and supporting the country's drive for robust, climate-resilient, and inclusive growth for the next five years.

The Manila-headquartered multilateral bank said it is focussed on deepening its engagement with the country and supporting the country's drive for robust, climate-resilient, and inclusive growth for the next five years.

  • The Manila-headquartered multilateral bank said it is focussed on deepening its engagement with the country and supporting the country's drive for robust, climate-resilient, and inclusive growth for the next five years.
  • Focus Areas -
  • Accelerate structural transformation and job creation
  • Promote climate-resilient growth
  • Deepen social and economic inclusiveness
  • The bank plans to intervene in energy transition, transport decarbonisation, climate adaptation, and disaster risk management.
  • By doing so, ADB aims to contribute to India’s efforts in addressing climate change and building a sustainable future.
  • ADB will increase its support for education, health, and social protection in India.
  • The strategy also focuses on improving urban liveability and rural development.
  • ADB recognizes the importance of gender empowerment and environmental sustainability in achieving inclusive growth. Hence, these aspects are also incorporated into its objectives for India.
  • ADB projects that India’s economy will grow at a rate of 6.4% in FY24.
  • ADB intends to aid the nation’s progress by participating in major national initiatives such as industrial corridors, multimodal logistics systems, urban infrastructure, skill ecosystem, and small enterprises.
  • The bank intends to leverage public-private partnerships as a means to achieve its objectives effectively.
Source- Economic Times

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