Satya Srinivas appointed India's executive director at Asian Development Bank

Asian Development Bank

The Appointments Committee of the Cabinet has approved the appointment of L. Satya Srinivas, a 1991-batch IRS (Customs & Indirect Taxes) officer, as Executive Director (India) at the Asian Development Bank (ADB).

Satya Srinivas, who is currently serving as Special Secretary in the Department of Commerce, will hold the post until his superannuation on February 28, 2026. Thereafter, he will continue on a contractual basis for a total tenure of three years, or until further orders.

His appointment will be subject to the standard terms and conditions applicable to re-employed central government officers.

In another development, India and the Asian Development Bank (ADB) have signed a USD 126.42-million loan agreement to promote rural development through sustainable tourism in the Tehri Lake region of Uttarakhand. The project aims to benefit over 87,000 residents and 2.7 million annual visitors through improved tourism planning, upgraded infrastructure, enhanced sanitation and waste management, and disaster preparedness.

The project targets the Tehri Garhwal District, one of Uttarakhand's most climate-vulnerable and economically disadvantaged regions. "The ADB loan supports the Government of Uttarakhand's policy to position the state as a diversified, all-weather tourism destination, with Tehri Lake identified as a priority area for development," said Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance.

"The project showcases a model for sustainable tourism anchored around a hydropower lake by adopting a multi-sector approach to generate jobs, diversify income, and build climate resilience," said Kai Wei Yeo, Officer-in-Charge, India Resident Mission, for ADB. Through the project, key interventions would include institutional strengthening, climate-resilient infrastructure, nature-based solutions to mitigate landslide and flood risks, and inclusive tourism services led by women, youth, and the private sector.