New Delhi, June 1 -- Asian Development Bank (ADB) President Masato Kanda announced that the ADB will invest $10 billion in Indian urban infrastructure over a period of five years.

This investment aims to transform urban infrastructure across India, including metro extensions, new regional rapid transit system (RRTS) corridors, and urban services, ADB said in a statement.

"Cities are engines of growth," Mr Kanda said after meeting PM Narendra Modi. "ADB will mobilise capital, accelerate delivery, and scale solutions that keep India's urban economy moving and people thriving on the road to Viksit Bharat @ 2047," he added.

Masato Kando arrived in India last week, marking his official state visit after becoming the ADB President.

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