Govt signed an agreement with ADB to avail a $100 mn loan

The government of India on Friday signed an agreement with Asian Development Bank (ADB) to avail a $100 million loan to improve urban services and tourism facilities in the northeastern state of Tripura, the government release said.

The signatories to the loan agreement for the Tripura Urban and Tourism Development Project were Ms. Juhi Mukherjee, Joint Secretary Department of Economic Affairs in the Ministry of Finance, for the Government of India, and Mr. Nilaya Mitash, Officer-in-Charge of ADB’s India Resident Mission, for ADB..

“The project will support the state as a gateway to the northeast region by developing tourist destinations along highways and by improving urban governance and financial sustainability through improved resource mobilisation and credit worthiness,” Mitash, Officer-in-Charge of ADB’s India Resident Mission, said. 

According to Mitash, ADB support will also strengthen the capacity of ULBs for integrated planning, including climate and disaster resilience, and identification of community and private sector participation for tourism and marketing.

Through this project, ADB will help upgrade tourist destinations, such as the Chaturdash Devata Temple, Kasba Kalibari, and Neermahal Palace, by improving the amenities, rooms, landscaping, and making them more visitor-and gender-friendly destinations. It will establish a digital museum and a new adventure park.