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ADB approved Loan to Support NICDP

Published on November 01, 2021
Current Context: The Asian Development Bank (ADB) has approved the loan to support GOI’s National Industrial Corridor Development Program (NICDP).
ADB approved Loan to Support NICDP
  • The loan of $250 million was approved for the same.
  • This loan is the first subprogram of the $500 million loans which will be used to develop 11 industrial corridors in 17 states.
  • The NICDP aims to develop world-class industrial nodes which will lead to having efficient urban agglomerations and will impart multimodal connectivity.
  • The multimodal connectivity will be granted through gateways like ports and airports.
  • The project will also work to have the climate-resilient and sustainable infrastructure in the country.
  • Static Part: 
    • HQ of ADB: Metro Manila, Philippines
    • President of ADB: Masatsugu Asakawa

Question: 

Q.1 Which organization approved the loan of $250 million to support the GOI’s National Industrial Corridor Development Program (NICDP)?
a. Asian Development Bank
b. World Bank
c. New Development Bank
d. Asian Infrastructure Investment Bank
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