The Asian Development Bank (ADB) has approved a USD 1 billion loan to support the Government of India's urban reform agenda, aimed at strengthening cities as engines of economic growth, innovation and liveability.

The Urban Transformation and Investment Program will support the implementation of the Centre's flagship Urban Challenge Fund (UCF) and related reforms to strengthen urban institutions, improve integrated economic and spatial planning, and enhance the financial capacity of urban local bodies, according to the ADB.