Government and ADB Ink $100 Million Loan Pact for Development Projects in Tripura

The Union government, in collaboration with the Asian Development Bank (ADB), has formalized a significant agreement on Friday, securing a $100 million loan for the enhancement of urban services and tourism facilities in Tripura, a northeastern state in India.

The loan agreement for the Tripura Urban and Tourism Development Project was inked by 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.

Following the signing, Mukherjee emphasized that the project's aim is to enhance municipal infrastructure and public services in Urban Local Bodies (ULBs) along the main national highways in Tripura. Additionally, the initiative will focus on upgrading key tourism sites, contributing to the overall development of the state.

"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," stated Nilaya Mitash.

Mitash further highlighted that ADB's support will play a crucial role in strengthening the capacity of ULBs for integrated planning, including climate and disaster resilience. It will also facilitate the identification of community and private sector participation for tourism and marketing.

The project encompasses several key components, including the upgrade of urban water supply systems through the installation of 42 km of new transmission and distribution pipes, the establishment of four new water treatment plants, and the improvement of 55 km of stormwater drains.

Moreover, the initiative will address urban road infrastructure by enhancing 21 km of roads designed to incorporate features that cater to the needs of diverse demographics, including the elderly, women, children, and differently-abled individuals, according to the official statement.

BS