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TMI BlogApproval of Loan to VCIC by ADBX X X X Extracts X X X X X X X X Extracts X X X X ..... Approval of Loan to VCIC by ADB X X X X Extracts X X X X X X X X Extracts X X X X ..... velopment Bank (ADB) has approved $631 million (Rs.4165 crore) in loans and grants for infrastructure development along the Vizag-Chennai Industrial Corridor (VCIC) on 20th September, 2016. This amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t comprises (i) $ 500 million two-tranche facility to build key infrastructure (ii) $ 125 million two-tranche loan to help with industrial policies and business promotion (iii) $ 5 million grant from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the multi-donor Urban Climate Change Resilience Trust Fund that is managed by ADB to build climate resilient infrastructure, and (iv) $1 million technical assistance to help the Andhra Pradesh local G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... overnment to manage the corridor. India and ADB have signed first tranche of loan USD 375 million pact for loans and grants to develop Visakhapatnam-Chennai Industrial Corridor. Detailed Project Repor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts (DPR) for the first tranche has been prepared. First tranche loan will have a 25 year term, including a grace period of 5 years, a 20 year straight line repayment method at an annual interest rate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... determined in accordance with ADB's LIBOR-based lending facility. This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today. ** ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ***
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