GS Paper 2
Syllabus: Important International institutions, agencies and fora, their structure, and mandate.
Context: The Asian Development Bank (ADB) has announced its India strategy for the period 2023-2027, with a key focus on employment creation and promoting green growth
What is Country Partnership Strategy for India (CPS): 2023-2027
The Country Partnership Strategy (CPS) for India (2023-2027) is a plan by the Asian Development Bank (ADB) to deepen its engagement with India and support its drive for robust, climate-resilient, and inclusive growth.
About CSP 2023-2027:
| Aspect | Details |
| The CPS supports India’s national development priorities to be achieved by 2047, aligning with the country’s 100 years of independence. | |
| Aim | The aim of the CPS is to accelerate structural transformation and job creation, promote climate-resilient growth, regional cooperation, and integration in South Asia, and deepen social and economic inclusiveness. |
| Three Pillars | 1. Accelerate the structural transformation and job creation through the convergence of logistics-industry-urban-skilling programs, along with support for MSMEs.
2. Promote climate-resilient growth. 3. Deepen social and economic inclusiveness.
|
| Cross-Cutting Themes | The CPS focuses on four cross-cutting themes:
1. Domestic resource mobilization. 2. Gender equality and social inclusion. 3. Digitalization and innovation ecosystem support. 4. Regional cooperation and integration through South Asia Subregional Economic Cooperation (SASEC). |
India’s engagement with ADB:
| Dimension | Details |
| Financial Support | ADB has committed $52.6 billion in 605 public sector loans, grants, and technical assistance to India as of December 2022. This financial support is aimed at promoting inclusive and sustainable development in various sectors of the Indian economy. |
| Private Sector Investments | ADB has made private sector investments totalling $8 billion in India. These investments are targeted at fostering private sector growth, supporting entrepreneurship, and facilitating economic development in India. |
| Infrastructure Development | ADB has contributed to improving connectivity by investing in the Chennai metro network. Additionally, ADB has supported the development of road networks, such as Maharashtra’s road network, and the upgrading of state highways in Assam and Rajasthan. |
| Reforms and Capacity Building | ADB has assisted in the reform of the logistics sector in India. Through technical assistance and knowledge sharing, ADB helps strengthen institutions and improve governance to enhance the efficiency and effectiveness of the sector. |
| Inclusive Development | It supports projects and programs that aim to address social and economic disparities, improve access to basic services, and enhance opportunities for marginalized communities. |
| Climate Change Mitigation | It supports initiatives for climate adaptation and mitigation, energy transition, transport decarbonization, and disaster risk management. ADB’s interventions in India’s energy sector aim to facilitate the transition to cleaner and more sustainable sources of energy, contributing to India’s climate agenda and its commitment to reducing carbon emissions. |
| Regional Cooperation | ADB supports regional initiatives such as the South Asia Subregional Economic Cooperation (SASEC), which brings together countries including Bangladesh, Bhutan, Maldives, Myanmar, Nepal, and Sri Lanka. |
About ADB:
The Asian Development Bank (Est. 1966; HQ: Manila, Philippines) is a regional development bank to promote social and economic development in Asia and the Pacific. ADB is an official United Nations Observer. The Asian Development Bank has 68 member countries, with 49 from the Asia-Pacific region and 19 from outside the region. The Asian Development Bank is owned by its member countries, with Japan and the United States being the largest shareholders. India is one of ADB’s founding members. The bank operates with a weighted voting system, similar to the World Bank, where votes are distributed based on members’ capital subscriptions.
Insta Links:
Mains Links:
Analyse the engagement of the Asian Development Bank in India’s development project. (15M)
