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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 - News and Press Release Dated:- 15-3-2017 - News - Press Information Bureau Government of India Ministry of Commerce Industry 15-March-2017 16:18 IST Asian Development 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, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016. This amount 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pradesh local Government 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 Reports (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 annua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l interest rate 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. ***** MJPS - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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