- 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.
Question:
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
