The Government of India and the Asian Development Bank (ADB) have signed multiple loan agreements with a combined value of over $2.2 billion to support development initiatives across skill development, renewable energy, healthcare, urban transport, and livelihoods. Among the five projects covered, the renewable energy component focuses on expanding rooftop solar deployment under the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Programme, Subprogramme 1.
Additionally, a loan of $650 million has been signed for the scheme. This financing will support the Pradhan Mantri Surya Ghar: Muft Bijli Yojana, which targets large-scale adoption of residential rooftop solar systems across India. The programme aims to expand access to clean and affordable electricity by enabling rooftop solar installations for up to 10 million households by 2027.
Furthermore, a loan of $846 million has been secured from ADB for the programme supporting the Pradhan Mantri Skilling and Employability Transformation through upgraded industrial training institutes. This financing will be used to modernise 650 industrial training institutes across 12 states and upgrade five national skill training institutes into centres of excellence. The programme is designed to deliver industry-aligned courses in areas such as renewable energy, electric mobility, and advanced manufacturing, with the objective of improving employability for at least 1.3 million people.
