On 8th April 2021, The Asian Development Bank (ADB) approved a USD 484 Million (~₹ 3,616 Crore) Loan to improve transport connectivity and road maintenance in Chennai-Kanyakumari Industrial Corridor(CKIC) in Tamil Nadu.
About the Project:
To increase the participation of the manufacturing industry in production networks and global value chain and create jobs along the corridors.
i.This will upgrade around 590 kilometres of state highways in CKIC influence areas.
ii.In this highway up-gradation project, climate change adaptation measures will be incorporated, including the improved drainage raised road embankments in critical sections and resizing of bridges and culverts.
iii.This will also strengthen the road safety improvement programmes through advanced technologies for road monitoring and enforcement.
iv.This will also support the improved planning capacity of highways and minor ports department, Tamil Nadu.
About Chennai-Kanyakumari Industrial Corridor(CKIC):
CKIC is a part of the East Coast Economic Corridor of India which stretches from West Bengal to Tamil Nadu.
The CKIC connects India to the production networks of Southeast and East Asia.
Recent Related News:
On December 8, 2020, the Asian Development Bank (ADB) approved USD 300 million (about Rs 2,200 crore) loan for Strengthening Comprehensive Primary Health Care in Urban Areas Program in India. In addition to the loan, a $2 million technical assistance grant was also provided from ADB’s Japan Fund for Poverty Reduction to provide technical support for program implementation.
About Asian Development Bank (ADB):
President– Masatsugu Asakawa
Managing Director General– Woochong Um
Established in– 1966
Headquarters– Manila, Philippines
Members– 68 members(49 – Asia & Pacific & 19 – outside)