Tripura Govt signs loan agreement with ADB, development of urban and tourism sector to begin soon

Agartala: The Government of Tripura had signed the loan agreement with the Asian Development Bank (ADB) sector in Tripura on December 18 for the development of urban areas and tourism sector in Tripura.

The Resident Commissioner of Tripura, Chitanya Murti IFS had signed the loan negotiation documents of the Project Readiness Finance PRF with Mr Takeo Kanishi, the Country Director of Asian Development Bank (ADB) in presence of Dr CS Mohapatra, the Additional Secretary Department of Economic Affairs, Ministry of Finance.

Under the loan agreement, initially, ADB will provide 40 crores for the engagement of Project Design and Management consultants for urban and tourism sectors.

In the urban sector, all 20 urban local bodies in Tripura will be covered. In the tourism sector, all tourism destinations, roads leading to them and tourist facilities will also be covered.

Once the projects are prepared, ADB will provide 1600 crores for the development works in urban areas and 500 crores in the tourism sector over the next three years.

Meanwhile, last year, the ADB had approved a project worth Rs 1,650 crore to develop the infrastructure of seven district headquarters in Tripura.

80% out of Rs 1,650 crore was to be used as grant-in-aid and the state was supposed to repay 20% of the loan in due course of time.

The loan was taken from ADB to modernize all district headquarter towns and boost the tourism of the state. Infrastructure development such as piped water supply, underground drainage, underground sewage or scientific seepage management, roads with pavement in all the seven district headquarter towns etc were to be constructed.

The project was to be taken up in Khowai, Ambassa, Dharmanagar, Khailashahar, Udaipur, Bishramganj and Belonia.

The Urban Development Department of the Tripura government with the assistance of ADB had planned for speedy execution of the project in Tripura.

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