ADB launches country partnership strategy for climate-resilient growth
Recently the Asian Development Bank (ADB) has launched a new “Country Partnership Strategy (CPS)” for India for the period 2023-27.
- ADB to accelerate structural transformation and job creation in India over the period 2023-27; Will focus on promoting environment-friendly growth and strengthening social and economic inclusion.
- ADB has committed $52.6 billion in public sector loans, grants and technical assistance projects in India and $8 billion in private sector investment by December 2022.
Key Features of ADB’s Country Partnership Strategy (CSP)
- Structural changes and employment generation will be expedited. This target will be achieved through convergence between development programs on Logistics-Industry-City-Skills and by providing support to MSMEs.
- Environment-friendly growth will be encouraged.
- Social and economic inclusion will be strengthened.
- Domestic resource mobilization;
- Gender equality and social inclusion;
- Support digitalization and innovation-friendly systems; And
- Regional cooperation and integration through the South Asia Subregional Economic Cooperation (SASEC).
Source – ADB