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Updated December 23rd, 2023 at 17:54 IST

Government, ADB collaborate on $100 million loan for Tripura's urban and tourism development

The comprehensive project plan includes the installation of 42 km of new transmission and distribution pipes for urban water supply systems.

Business Desk
India inks $400 million loan pact with Asian Development Bank
Asian Development Bank | Image:Asian Development Bank
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The Union government inked a pact with the Asian Development Bank (ADB) on Friday, securing a $100 million loan aimed at enhancing urban services and bolstering tourism facilities in the northeastern state of Tripura.

The key signatories for the Tripura Urban and Tourism Development Project's loan agreement were Juhi Mukherjee, Joint Secretary of the Department of Economic Affairs for the Government of India, and Nilaya Mitash, Officer-in-Charge of ADB's India Resident Mission, according to an official statement.

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Following the signing ceremony, Mukherjee highlighted the project's focus on enhancing municipal infrastructure and public services within Urban Local Bodies (ULBs) along the main national highways in Tripura. Additionally, the initiative aims to upgrade crucial tourism sites in the region.

Mukherjee stated, "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."

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Mitash echoed the sentiment, emphasising that ADB's support would not only develop tourist spots along highways but also strengthen urban governance and financial sustainability. The project aims to achieve this by enhancing resource mobilisation and creditworthiness.

Furthermore, Mitash detailed that ADB's involvement would enhance the capacity of ULBs for integrated planning, encompassing aspects of climate and disaster resilience. The initiative also intends to identify opportunities for community and private sector participation in tourism and marketing.

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The comprehensive project plan includes the installation of 42 km of new transmission and distribution pipes for urban water supply systems. It also involves establishing four new water treatment plants and improving 55 km of stormwater drains. Additionally, the project will revamp 21 km of urban roads, incorporating features that cater to the specific needs of the elderly, women, children, and differently-abled individuals, as outlined in the official statement.

(With PTI inputs.)

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Published December 23rd, 2023 at 17:54 IST

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