India and ADB Sign $350 Million Loan to Strengthen Logistics Ecosystem
| Aspect | Details |
|---|---|
| Why in the news? | $350M India-ADB Loan Agreement Finalized |
| Program | Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) |
| Stakeholders | - Department of Economic Affairs (DEA), Ministry of Finance - Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry - Asian Development Bank (ADB) |
| Loan Type | Policy-Based Loan (PBL) under the second subprogram of SMILE |
| Objective | Enhance logistics efficiency, strengthen manufacturing, and improve supply chain resilience |
| Key Focus Areas | - Institutional Strengthening - Standardization - Trade Logistics - Digital and Smart Systems |
| Institutional Strengthening | Develop multimodal logistics infrastructure at national, state, and city levels |
| Standardization | Standardize warehousing and logistics assets; incentivize private sector investment |
| Trade Logistics | Enhance efficiency in external trade logistics |
| Digital and Smart Systems | Integrate smart systems for efficient, low-emission logistics operations |
| Anticipated Outcomes | - Economic Growth - Employment Generation - Gender Inclusion - Environmental Sustainability |
| Economic Growth | Reduce logistics costs and enhance manufacturing competitiveness |
| Employment | Generate significant employment opportunities |
| Gender Inclusion | Promote gender-inclusive workforce practices |