India and ADB sign $350 million policy-based loan under second subprogramme of SMILE logistics programme
The Government of India and the Asian Development Bank signed a $350 million policy-based loan on 20 December 2024 to support logistics reforms.
Summary
The Government of India and the Asian Development Bank (ADB) signed a $350 million policy-based loan on 20 December 2024 under the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme. The Department of Economic Affairs, the Department for Promotion of Industry and Internal Trade (DPIIT) and ADB signed the agreement. SMILE is a programmatic policy-based loan of two subprogrammes that aims to expand India's manufacturing sector and make supply chains more resilient, through stronger institutions for multimodal logistics, standardised warehousing, more efficient external trade logistics, and smart, low-emission logistics systems.
Key facts
- Loan
- $350 million, policy-based
- Programme
- Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE), second subprogramme
- Signed
- 20 December 2024
- Signatories
- DEA (Finance Ministry), DPIIT (Commerce Ministry) and ADB
- Aims
- Expand manufacturing; resilient supply chains; logistics efficiency
Practice MCQs 2 questions
What was the size of the policy-based loan signed by India and the ADB on 20 December 2024 under the SMILE programme?
Show answer
Correct answer: C — $350 million
PIB (Commerce Ministry): the Government of India and ADB signed a $350 million policy-based loan under the second subprogramme of the SMILE programme.
In the ADB-supported SMILE programme, what does 'SMILE' stand for?
Show answer
Correct answer: A — Strengthening Multimodal and Integrated Logistics Ecosystem
PIB (Commerce Ministry): the loan was signed under the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme.