ADB to Prepare Development Plan for India's East Coast Economic Corridor

27 March 2017

The Asian Development Bank (ADB) will prepare the feasibility study and conceptual development plan for India’s East Coast Economic Corridor (ECEC), in close collaboration with the Government.

ADB supports the Government of India in developing economic corridors. Their joint work on the ECEC has led to useful lessons on economic corridor development (ECD), according to Mr. Ronald Antonio Butiong, Director, ADB South Asia Department. The ECD approach will allow India to leverage infrastructure connectivity and develop urban areas as growth centers and gateways to unlock the full potential of markets. Since 2013, ADB has been supporting studies on transforming transport corridors into dynamic economic corridors.

ECEC is India’s first coastal economic corridor, stretching about 2,500 kilometers from Kolkata in the north to Kanyakumari in the south. Its long coastline and strategically located ports allow multiple international gateways to connect India with global value chains in East and Southeast Asia.

In September 2016, ADB approved a $631 million loan and grant package to finance development of the ECEC, including a $500 million multitranche facility to build key infrastructure in the four main centers along the corridor — Visakhapatnam, Kakinada, Amaravati, and Yerpedu-Srikalahasti, in the state of Andhra Pradesh.


Related Links:

Impact of Goods and Services Tax on Bhutan and Nepal’s Third Country Trade

Charges for different port and Customs services for Bhutan and Nepal’s third country import/export through India will not...
Read More >>

Bangladesh and Sri Lanka Ink 14 Deals for Cooperation

Bangladesh and Sri Lanka signed 14 instruments of cooperation in coastal shipping, agriculture, higher education, foreign service training,...
Read More >>

Bangladesh, Sri Lanka Shipping Companies Mull Container Feeder Service Joint Venture

The Bangladesh Shipping Corporation (BSC) and Sri Lanka's Ceylon Shipping Corporation plan to launch a container feeder service...
Read More >>

SAARC Countries Urged to Focus on Removing Non-tariff Barriers

Mr. Younus Dagha, Federal Secretary of Commerce, Pakistan, has urged the member countries of the South Asian Association...
Read More >>

ADB Forecasts Improved Growth for South Asia

Economic growth prospects in developing Asia for 2017 have improved on the back of stronger-than-expected export demand in...
Read More >>

Bangladesh, India to Pilot Cargo Railway Service

Bangladesh and India will pilot a freight train service between Dhaka and Kolkata in August, using the broad...
Read More >>

SASEC Road Connectivity to Open Opportunities for MSMEs

India’s Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, gave its approval for a $253,406,409...
Read More >>