India Signs $350 Million Loan Agreement with ADB
India and the Asian Development Bank (ADB) signed a $350 million loan agreement under the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme. The initiative seeks to reform India’s logistics sector by enhancing infrastructure and policy frameworks, promoting private investment, and integrating smart and sustainable practices. It aims to bolster India’s manufacturing and supply chain efficiency, thereby reducing costs, creating jobs, and supporting gender equality. Collaborative efforts between the Government of India, ADB, and private stakeholders are pivotal to achieving a robust logistics ecosystem and long-term economic growth.
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