India Secures $350 Million Loan from ADB
News: India signed a $350 million loan agreement with the Asian Development Bank (ADB) under the SMILE program to enhance multimodal logistics and boost manufacturing.
The policy-based loan aims to strengthen supply chain resilience, improve logistics efficiency, and incentivize private sector investment.
It will establish a robust policy framework for multimodal logistics infrastructure at national, state, and city levels, standardize warehousing, and adopt smart, low-emission systems. The collaboration also focuses on reducing trade logistics costs, improving efficiency, and creating employment opportunities while promoting gender inclusion. This initiative underscores India and ADB’s shared commitment to transforming the logistics sector, driving sustainable economic growth, and enhancing the global competitiveness of India’s manufacturing industry.
Source: The Economic Times
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