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