ADB, India sign $141.12 million loan for industrial corridor development in Andhra Pradesh1 min read 25 May 2023, 07:36 PM IST
The ADB financing through adopting multi-sectoral approach will help the state in promoting industrialization to increase the share of manufacturing in the state’s gross domestic product, build competitiveness and creating jobs in the project target areas
The Asian Development Bank (ADB) and the Government of India signed a $141.12 million loan to support the development of high-quality internal infrastructure such as roads, water supply systems and electricity distribution network in three industrial clusters in the state of Andhra Pradesh. This financing is the second tranche of the $500 million multi-tranche financing facility (MFF) for the program approved by ADB in 2016 to build infrastructure in three industrial clusters in the Visakhapatnam and Srikalahasthi-Chittoor nodes in the state.
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