India is planning to develop regional connectivity projects worth $5 billion in South Asia with Asian Development Bank.
The South Asia Sub-regional Economic Cooperation (SASEC) Program brings together Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka and is supported by the Asian Development Bank (ADB).
1. The first road corridor will connect India with Bangladesh, Nepal and Bhutan through the “chicken neck” area of North Bengal.
2. The second road corridor will establish India-Myanmar connectivity in Manipur.
3. India is planning to establish Integrated Customs Ports (ICPs) and improved Land Customs Stations (LCS) at key border points with Bangladesh, Nepal and Bhutan to ease the movement of goods and people within the region.
Asian Development Bank:
The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in in the region.
From 31 members at its establishment in 1966, ADB has grown to 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
As a multilateral development finance institution, ADB provides:
• technical assistance
ADB maximizes the development impact of its assistance by
• facilitating policy dialogues,
• providing advisory services, and
• mobilizing financial resources through cofinancing operations
Areas of Focus
• Infrastructure (water, energy, transport, urban development, information and communications technology)
• Regional cooperation and integration
• Finance sector development