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Tripura infrastructure: India, ADB sign project readiness financing facility

Our Bureau New Delhi | Updated on December 18, 2020 Published on December 18, 2020

The Asian Development Bank (ADB) and India on Friday signed a $4.21-million project readiness financing (PRF) facility for the preparation of infrastructure development projects to improve urban amenities and develop tourism infrastructure in Tripura. This is ADB’s first PRF facility for a State in the northeastern region.

The signatories to the PRF for Tripura Urban and Tourism Development Project were CS Mohapatra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Indian government, and Takeo Konishi, Country Director of ADB’s India Resident Mission who signed for ADB.

Mohapatra said the facility will support the Tripura government’s priorities of improving urban services and tourism infrastructure through holistic planning by developing key infrastructure investment projects and related reforms in these sectors that will help boost economic development.

Konishi said the facility aims to ensure high readiness of ensuing infrastructure projects through feasibility studies, preparing detailed engineering designs, and capacity building of State-level agencies while ensuring climate and disaster resilience, inclusiveness and sustainability of sub-projects.

Inadequate urban infrastructure and low institutional capacity of urban local bodies (ULBs) have impeded urbanization-led growth in Tripura. The PRF will help finance preparation of integrated infrastructure development plans for 7 districts headquarter towns and 13 ULBs focussed on water supply, sanitation, storm water drainage, urban roads, and urban amenities, an official release said.

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Published on December 18, 2020
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