The Government of India and the Asian Development Bank (ADB) signed a policy-based loan of $350 million under the Second Sub-Programme of Strengthening the Multimodal and Integrated Logistics Ecosystem (SMILE) Programme on 20 December 2024.
Department of Economic Affairs (DEA), Ministry of Finance; Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry; and ADB signed.
The SMILE programme is a programme policy-based lending (PBL) aimed at assisting the government in carrying out comprehensive reforms in the logistics sector in India.
