In an exclusive interview with Channeliam.com, Mio Oka, the Country Director of the Asian Development Bank (ADB), India Resident Mission, shared valuable insights into ADB’s contribution to India’s development and its future plans. Over the years, ADB has emerged as a crucial financial partner for the country, supporting various sectors and playing a key role in India’s growth trajectory.
Key Areas of ADB’s Investment in India
ADB has consistently committed substantial funds to India’s development. In 2023, the bank provided $2.59 billion in sovereign lending to the country. However, in 2024, this commitment saw a significant increase, rising to $4.24 billion. These investments have focused on areas such as city development, logistics, agriculture, and flood protection. Infrastructure development has always been a major focus for ADB, particularly in sectors like energy transmission, roads, and metro projects.
Shifting Focus to Soft Sectors and Sustainability
While infrastructure remains a priority, ADB’s approach is evolving. The bank is increasingly focusing on soft sectors, including skills development, education, health, and agriculture. In line with India’s priorities, ADB has also been working to address climate-related challenges. Oka mentioned that ADB now refers to itself as a “climate bank,” focusing on sustainable energy transitions and climate adaptation, which are essential for India’s resilience against climate events.
Aligning with India’s National Development Priorities
ADB works closely with the Indian government to align its initiatives with national priorities. Regular discussions with both the central government and state governments help ensure that ADB’s support is targeted towards the most pressing needs of the country. Oka emphasized that the bank’s approach is adaptable, and it continuously strives to understand the evolving needs of India to provide effective support.
ADB’s Strategic Priorities for India
Looking into the future, ADB’s strategic priorities for India will continue to focus on infrastructure, sustainable energy, and climate resilience. As India’s development goals expand, ADB’s expertise and financing will be crucial in accelerating the country’s progress. The bank’s deepening commitment to supporting both hard and soft sectors reflects its evolving role as a key partner in India’s journey towards sustainable and inclusive growth.
