ADB to give $451 mn for Chennai-Kanyakumari Industrial Corridor power links

एडीबी चेन्नई-कन्याकुमारी औद्योगिक गलियारे के लिए $ 451 मिलियन प्रदान करेगा

Points to Remember:

  • The Asian Development Bank said it will provide a $451 million (about Rs 3,200 crore) loan to strengthen power connectivity between the southern and northern parts of the Chennai-Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
  • The total cost of the project is $653.5 million, of which the government will provide $202.5 million, the Manila- headquartered multilateral agency said in a release.
  • The estimated completion date is the end of 2024.
  • ADB has been assisting in developing CKIC, which covers 23 of the state’s 32 districts and 70 per cent of the state population.

About ADB:

  • Motto: Fighting Poverty in Asia and the Pacific
  • Formation: 19 December 1966
  • Type: Multilateral Development Bank
  • Purpose: Social and Economic Development
  • Headquarters: Metro Manila, Philippines
  • Membership: 68 countries
  • President: Takehiko Nakao
Important Possible questions based on above News:
  1. Recently the Asian Development Bank has approved __loan for Chennai-Kanyakumari industrial corridor power links in Tamil Nadu. $451 million
  2. Who is the current President of Asian Development Bank? Takehiko Nakao

 

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