Subscribe To Our Free Newsletter |
India and ADB sign $23 million loan agreement to strengthen fintech ecosystem in India
The Government of India and the Asian Development Bank (ADB) 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). GIFT City is an initiative of the Government of India and the State Government of Gujarat to foster Indias financial services and fintech ecosystem. The project is expected to establish an International Fintech Institute (IFI) to strengthen fintech education, boost start-up success rates, and drive fintech research and innovation. The IFI, set to be established in partnership with globally reputed institutes and universities, will offer industry-aligned fintech training programmes that meet international standards. The institute will strengthen innovation and entrepreneurship by supporting startups, especially women-led, through incubation and acceleration services. It will also collaborate with industry and venture capital funds to support the growth of ...