Centre, ADB ink $23-mn-loan pact
To enhance access to quality fintech education, research, and innovation at the GIFT City
image for illustrative purpose
New Delhi: The Union government and the Asian Development Bank (ADB) on Thursday signed a $23-million-loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City.
GIFT City is an initiative of the Centre and the Gujarat government to foster India’s financial services and fintech ecosystem, the finance ministry said in a statement. As per the loan agreement, a fintech institute will be set up at GIFT City.
The pact was signed by Finance Ministry Joint Secretary Juhi Mukherjee and Officer-in Charge of ADB’s India Resident Mission Rajesh Vasudevan. After signing the agreement, Mukherjee said the project will establish International Fintech Institute (IFI) to strengthen fintech education, boost startup success rates, and drive fintech research and innovation.
