ADB inks USD 484 million loan with GoI to upgrade road network in Tamil Nadu industrial corridor

Current GK ( Master) International Funding institutions

The Asian Development Bank (ADB) and the Government of India have signed a $484 million loan on June 16, 2021, to improve transport connectivity and facilitate industrial development in the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
Under the project about 590 km of state highways in the CKIC influence areas will be upgraded that cover 23 of the 32 districts between Chennai and Kanyakumari.
CKIC is part of East Coast Economic Corridor (ECEC) of India, which stretches from West Bengal to Tamil Nadu.
ECEC connects India to the production networks of South, Southeast, and East Asia.
It must be noted that ADB is the lead partner of the Government of India in developing ECEC.