Q. Consider the following statements regarding the Vizag-Chennai Industrial Corridor (VCIC):
1. It is part of Kolkata-Kanyakumari East Coast Economic Corridor.
2. It is funded by Asian Infrastructure Investment Bank (AIIB).
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Asian Development Bank (ADB) had prepared Conceptual Development Plan (CDP) for Vizag-Chennai Industrial Corridor (VCIC).  

  • The Andhra Pradesh government has mooted development of nodes in Visakhapatnam, Machilipatnam, Donakonda and on the Yerpedu-Srikalahasti stretch. 
  • The VCIC has been identified for development in the first phase of Kolkata-Kanyakumari East Coast Economic Corridor. 
  • The ADB, which prepared the concept paper, has agreed to give $500 million towards multi-tranch financing facility and policy-based loan worth $125 million. 

Source: The Hindu