India-ADB Agreement under SMILE Program
On 20th December 2024, the Government of India and the Asian Development Bank (ADB) signed a $350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.
- This agreement aims to bolster India’s manufacturing sector while enhancing the resilience of its supply chains.
Expected Impact
- Reducing logistic costs;
- Improving efficiency;
- Generating substantial employment opportunities;
- Promoting gender inclusion & driving sustainable economic growth; and
- Transforming the Indian logistics ecosystem.
What is SMILE Program?
- Programmatic Policy-based Loan (PBL): It is a programmatic policy-based loan (PBL) to support the government in undertaking wide-ranging reforms in the logistics sector in India.
- Aim: To ....
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