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The ADB approved on 20 September 2016 (i) a $500 million multi-tranche financing facility (MFF), and (ii) a $125 million policy-based loan (PBL), both to India for the Visakhapatnam–Chennai Industrial Corridor Development Program (VCICDP). [13]
The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, [3] which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. [4] The bank also maintains 31 field offices around the world [ 5 ] to promote social and economic development in Asia.
The ADB is to invest $500 million in infrastructural development of the project. [1] Since late 2013, ADB has been supporting studies on transport corridors in India. Phase 1 of the ECEC is Visakhapatnam-Chennai Industrial Corridor (VCIC) which had been approved by the ADB board in October 2016.
The South Asia Subregional Economic Cooperation (SASEC) Program, set up in 2001, brings together Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka in a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation. [1]
The Indore Metro is a rapid transit system which is under construction for the city of Indore, in the state of Madhya Pradesh, India. The total system consists of 11 corridors (lines) covering a distance of 124 kilometres (77 mi). This project will cost approximately ₹ 12,000 crore (US$1.4 billion). [1]
The Turkmenistan–Afghanistan–Pakistan–India (TAPI) Gas Pipeline, also known as Trans-Afghanistan Pipeline, is a natural gas pipeline being developed by the Galkynysh – TAPI Pipeline Company Limited with participation of the Asian Development Bank.
Even the Asian Development Bank (ADB) has funded 57 projects worth about $2.5 billion between 2001 and 2007 that included community-driven development approaches to enhance deliver of inputs and beneficiary participation. They constituted 14% of the total loans approved by the Asian Development Bank during this period.
The Bharatmala Pariyojna (lit. 'India garland project') is a project in India implemented by Government of India.It was slated to interconnect 550 District Headquarters (from the current 300) through a minimum 4-lane highway by raising the number of corridors to 50 (from the current 6) and move 80% of freight traffic (40% currently) to National Highways by interconnecting 24 logistics parks ...