India: Visakhapatnam–Chennai Industrial Corridor Development Program

The overall Program–comprising a multitranche financing facility and a policy-based loan–will help enhance growth and competitiveness, by boosting the manufacturing sector’s contribution to the state-level GDP, trade, and employment.  This policy-based loan will support policy reforms and institutional development in the state of Andhra Pradesh.

PROJECT DETAILS

Approval20 Sep 2016
Funding TypeLoan/Technical Assistance
CountryIndia
SectorEconomic Corridors
StatusOngoing
Total Cost$126 million

KEY OUTPUTS

Industrial and sector policies to stimulate industrial development

Improvement in investor promotion, trade facilitation, and logistics

Support to enhance the ease of doing business, including the establishment of an e-portal and a single-desk system

Capacity development of institutions engaged in corridor management

FINANCING

$125 million (Asian Development Bank)

$1 million (Technical Assistance)