News: India and Asian Development Bank (ADB) have signed a $350 million policy-based loan under the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) Programme.
About SMILE Programme
- It is a programmatic policy-based loan (PBL) to support the Indian government to undertake wide ranging reforms in the logistics sector.
- Aim:
- To strengthen the institutional and policy framework for inter-ministerial coordination and planning to incentivise private sector participation in multimodal logistics projects (MMLPs).
- To improve efficiency in external trade logistics and promote the use of smart and automated systems to improve service delivery.
- Key Pillars of the Programme
- Strengthening the institutional bases for multimodal logistics infrastructure development
- Standardising warehousing and other logistics assets to strengthen supply chains and promote private sector investment
- Improving trade logistics
- Promoting smart systems for efficient and low emission logistics.
- Potential Benefits: Reduction in logistics costs, improvement in operational efficiency and job creation.
