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Publish Date : 01-Feb-2016

The Manila-headquartered Asian Development Bank (ADB) has accomplished the signing of a loan agreement worth $ 80 million with the Government of India to facilitate persistent development of infrastructure in Agartala and Aizawl, the Capital cities of the North Eastern States of Tripura and Mizoram respectively.

The regional lender has approved the loan as part the North Eastern Region Capital Cities Development Investment Program.

The latest loan represents the third tranche of a financing facility worth $200 million approved under the aforesaid scheme by the ADB.

The ADB funds will be spent for the development of water supply provisions, solid waste management and sanitation services in the Capital cities of Tripura (Agartala) and Mizoram (Aizwal)

The ADB funds will also facilitate urban reformations, rendering benefits to almost one million residents of these two cities.

According to an official statement, five Northeastern capital cities of Shillong (Meghalaya), Aizawl (Mizoram), Kohima (Nagaland), Gangtok (Sikkim) and Agartala (Tripura) have been offered funding under the earlier program tranches.

The Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, Government of India, Raj Kumar has inked the third tranche loan pact for India, while Ms Teresa Kho, Country Director, ADBs India Resident Mission, accomplished the signing job in favor of her organization.

Signing of separate subproject deals under the third tranche loan has also been carried out.

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