New Delhi: In a significant bureaucratic development, the Appointments Committee of the Cabinet (ACC) has approved the appointment of L. Satya Srinivas (IRS-C&IT:1991), currently Special Secretary in the Department of Commerce, as the new Executive Director (India) at the Asian Development Bank (ADB).
His tenure will continue until his superannuation on February 28, 2026, and thereafter on a contractual basis for an overall period of three years or until further orders, whichever comes earlier. His appointment will be governed by the standard terms and conditions applicable to re-employed central government officers.
Mr Srinivas, an officer of the Indian Revenue Service (IRS) from the 1991 batch, has held several key roles in the Commerce and Industry Ministry, contributing to trade negotiations, export promotion, and infrastructure development.
ADB-India Collaboration Expands: $126.42 Million Loan for Uttarakhand Tourism
In a related development, India has signed a $126.42 million loan agreement with ADB to develop Tehri Lake in Uttarakhand into a world-class tourism hub. The initiative aims to enhance tourism-driven economic activity in the region, with a focus on sustainable and inclusive development.
The project is expected to:
- Benefit over 87,000 local residents
- Improve tourism infrastructure for 2.7 million annual visitors
- Strengthen disaster resilience through climate-proof infrastructure
- Include waste management, disaster preparedness, and community involvement
ADB officials stated the project will position Uttarakhand as an all-weather tourism destination, with special emphasis on women and youth participation, and private sector engagement in the region’s development.
A Strategic Appointment Amid Expanding India-ADB Ties
The appointment of L. Satya Srinivas to ADB comes at a time when India is strengthening its development cooperation with the multilateral bank. Srinivas replaces Vikas Sheel (IAS:1994:CG), who is expected to return to India and take over as Chief Secretary of Chhattisgarh, as per earlier reports.
India’s growing engagements with ADB, particularly in infrastructure, urban planning, and tourism, underline the importance of having seasoned bureaucrats like Srinivas in key global positions.
