India Signs an Agreement with South Korea

Published on December 03, 2022
Current Context: India signed an agreement with South Korea for an Economic Development Cooperation Fund (EDCF) loan of Korean Won 245.081 billion (INR 1495.68 Cr).
India Signs an Agreement with South Korea
  • The EDFC loan will be provided for the establishment of an Intelligent Transport System (ITS) on the Nagpur-Mumbai Super Communication Project.
  • It will be the first project to be funded by an EDFC loan from the Government of South Korea.
  • The primary objective of this project is to improve traffic management efficiency through the establishment of the Intelligent Traffic Management System (ITMS).
  • The sustainable model of ITS and operations and management will be established through the transfer of technology by South Korea.
  • EDFC is the development aid of South Korea that was established in 1987. The disbursement of the loan is administered by the EXIM Bank of Korea.


Q.1 Recently which country signed an agreement with India to provide India with an Economic Development Cooperation Fund (EDCF) loan?
a. Japan
b. South Korea
c. China
d. France

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