New Delhi, June 1 -- Asian Development Bank (ADB) President Masato Kanda has committed up to USD 10 billion, including third-party capital, for India's urban transformation, including metro extensions, new regional rapid transit system (RRTS) corridors, and urban infrastructure and services.

This is a five-year initiative, ADB said in a statement on Sunday.

"Cities are engines of growth," ADB President Kanda said after meeting Prime Minister Narendra Modi here in the national capital.

"ADB will mobilize capital, accelerate delivery, and scale solutions that keep India's urban economy moving and people thriving on the road to Viksit Bharat @ 2047," the ADB President added.

The five-year plan includes sovereign loans, private sector fin...