Current Affairs - International - Discussion

The Asian Development Bank (ADB) signed a $350 million policy-based loan agreement with the Government of India under the second subprogram of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) initiative. This loan aims to enhance India's logistics sector through reforms, infrastructure development, and digital integration, contributing to the efficiency of logistics, strengthening the manufacturing sector, and promoting sustainable economic growth. The agreement involves stakeholders such as the Department of Economic Affairs, the Ministry of Finance, and the Department for Promotion of Industry and Internal Trade.