India and ADB Sign $350 Million Loan Under SMILE Programme to Enhance Manufacturing and Logistics

Dec 22, 2024, 12:47 PM

The Government of India and the Asian Development Bank (ADB) have signed a $350 million policy-based loan agreement. This loan is part of the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme, aimed at expanding India's manufacturing sector and improving the resilience of its supply chains. The programme seeks to enhance logistics efficiency through various reforms, including strengthening institutional bases for multimodal logistics infrastructure development, standardizing warehousing and other logistics assets, improving efficiencies in external trade logistics, and adopting smart systems for efficient and low-emission logistics.