CURRENT AFFAIRS

Detailed explanation-1: -Industrial corridors as catalysts for sustainable urbanization across India. The Asian Development Bank (ADB) on October 29, 2021, approved a $250 million (about Rs 1, 875 crores) loan to offer support to India’s National Industrial Corridor Development Program (NICDP).

Detailed explanation-2: -The Asian Development Bank (ADB) on Friday said it has approved a USD 250 million (about Rs 1, 875 crore) loan to support India’s National Industrial Corridor Development Program (NICDP).

Detailed explanation-3: -The ADB on Friday said it has approved a $250 million policy-based loan to support India’s wide-ranging reforms that aim to strengthen and modernise the country’s logistics infrastructure.

Detailed explanation-4: -It also provides financing to certain private sector projects as well as public-private partnerships through grants, loans, technical assistance, and equity investments to promote development. The ADB is controlled by member countries, with the U.S. and Japan having the largest stake.