Boosting Fintech Education and Innovation | 16 Mar 2024

The Government of India and the Asian Development Bank (ADB) have signed a USD 23 million loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT-City).

The project will establish an International Fintech Institute (IFI) to strengthen fintech education, boost startup success rates, and drive fintech research and innovation.
- Emphasis will be placed on market-driven fintech skills programs, private sector investment, and collaboration between industry, institutes, and partners for holistic growth.
- IFI will offer industry-aligned fintech training programs meeting international standards and supporting innovation and entrepreneurship.
The ADB program will support research in climate fintech, regulatory technology, social inclusion, and gender equality in finance to develop new solutions and a state fintech readiness index.
GIFT-City is a business district and the first operational greenfield smart city in India. It's located on the banks of the Sabarmati River in Gujarat
- It is inclined to provide a conducive business ecosystem at par or above with leading global financial hubs.
- It consists of a multi-service Special Economic Zone (SEZ), which houses India’s first International Financial Services Centre (IFSC) and an exclusive Domestic Tariff Area (DTA).