Which of the following organisation has approved $631 million loan for building Indias first coastal industrial corridor between Visakhapatnam (Vizag) and Chennai.

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following organisation has approved $631 million loan for building India’s first coastal industrial corridor between Visakhapatnam (Vizag) and Chennai.

A	Reserve Bank
B	World Bank
C	Asian Development Bank
D	Bank of America

Explanation:

Detailed explanation-1: -The Visakhapatnam-Chennai Industrial Corridor Development Program (VCICDP) will complement the ongoing efforts of the Government of Andhra Pradesh (GoAP) to enhance industrial growth and create high quality jobs. The VCICDP comprises a multitranche financing facility (MFF), a grant, and a policy-based loan (PBL).

Detailed explanation-2: -ADB $250 million loan for India’s National Industrial Corridor Development Program (NICDP)

Detailed explanation-3: -The East Coast Economic Corridor (ECEC)-India’s first coastal corridor-is an example of an integrated economic development initiative.

Detailed explanation-4: -The nearly 800-kilometer corridor links India with the Association of Southeast Asian Nations (ASEAN) and East Asian economies that form the bedrock of global manufacturing economy. The corridor traverses nine districts of the state of Andhra Pradesh.

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