PM Modi meets ADB chief, commits USD 10 billion for RRTS corridor development

New Delhi: 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, 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.

The Viksit Bharat 2047 vision is bold, and @ADB_HQ is supporting that ambition. We will direct $10 billion, including third-party capital, over the next five years into municipal infrastructure development, extending metro networks, building new Regional Rapid Transit System… pic.twitter.com/r9xZBJeDS2

— Masato Kanda (@ADBPresident) June 1, 2025

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." 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!"