Thu, 08 Jun 2023

New Delhi [India], May 26 (ANI): The Asian Development Bank (ADB) and the Indian government have signed a USD 141.12 million loan agreement to support the development of high-quality infrastructure such as roads, water supply systems and electricity distribution network in three industrial clusters in Andhra Pradesh.

This financing is the second tranche of the USD 500 million multi-tranche financing facility for the program approved by the ADB in 2016.

"Internal infrastructure in the proposed clusters will include internal roads, stormwater drains, water supply systems, and electric power distribution systems. In Srikalahasthi-Chittoor node, the project will help develop the start-up area of the 938-ha Chittoor-South industrial cluster, and improve a 9.5-km access road to the Chittoor-South industrial cluster and an 8.7-km access road to the Naidupeta industrial cluster," a statement from Union Ministry of Finance said.

For long-term sustainability, the program will formulate a plan to improve the operation and maintenance of start-up industrial clusters and will roll out a toolkit with gender-responsive and socially inclusive guidance to integrate industrial and urban planning including industry housing in areas adjacent to industrial clusters. (ANI)

Sign up for Myanmar News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!