The Asian Development Bank (ADB) and the Government of India here today signed a $484 million loan to improve transport connectivity and facilitate industrial development in the Chennai–Kanyakumari Industrial Corridor (CKIC) in the state of Tamil Nadu. The project is key to providing seamless road connectivity across industrial clusters, transport gateways and consumption centers, and help reduce logistics and production costs for CKIC’s targeted industries to boost their competitiveness.
About Chennai–Kanyakumari Industrial Corridor (CKIC)
CKIC is part of India’s East Coast Economic Corridor (ECEC), which stretches from West Bengal to Tamil Nadu and connects India to the production networks of South, Southeast, and East Asia. ADB is the lead partner of the Government of India in developing ECEC.
About Asian Development Bank (ADB)
Established : 1966
Headquarter : Manila, Philippines
The Asian Development Bank (ADB) is a regional development bank established in 1966 which is headquartered in Manila, Philippines. A resolution passed at the first Ministerial Conference on United Nations Economic and Social Commission for Asia and the Pacific(ESCAP) in 1963 with initiative to become reality.
Sources : PIB