ADB offers huge loan to Andhra Pradesh
HYDERABAD: Asian Development Bank (ADB) is learnt to have come forward to lend $ 500 million to the cash-starved Andhra Pradesh to make it prosper on industrial front.
According to sources, the ADB has expressed its willingness to help the State in improving road connectivity between the proposed industrial corridors across the State to respective ports, which are nearer to them.
Representatives of ADB led by its country director for India Teresa Kho on Wednesday called on AP Chief Minister N Chandrababu Naidu at his chambers in secretariat here on Wednesday.
Sources said during the meeting, the Chief Minister had requested the ADB representatives to fund new projects being proposed to set up in Visakhapatnam industrial corridor in the truncated State.
News Posted: 11 December, 2014
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