ADB approves $250m loan for industrial corridor development in India
The Asian Development Bank (ADB) has given the green light for a $250 million policy-based loan to support the development of industrial corridors in India. The initiative, aligned with the National Industrial Corridor Development Program (NICDP), aims to boost the competitiveness of the manufacturing sector, strengthen national supply chains, and integrate with regional and global value chains. The project is expected to generate high-quality jobs across various sectors, contributing to poverty alleviation in the corridor states. The loan supports subprogram 2 of the Industrial Corridor Development Program, focusing on multimodal logistics infrastructure development under the Prime Minister Gati Shakti platform.
📅Published on:
11 December 2023
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