Government and ADB ink $100 million loan deal to enhance Tripura's urban services and tourist infrastructure

 Government and ADB ink $100 million loan deal to enhance Tripura's urban services and tourist infrastructure

According to an official announcement, Nilay Mitash, Officer-in-Charge of ADB's India Resident Mission, and Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Government of India, signed the financing agreement for the Tripura Urban and Tourism Development Project.

Government and ADB ink $100 million loan deal to enhance Tripura's urban services and tourist infrastructure

On December 22, the federal government and the Asian Development Bank (ADB) inked a loan agreement for the purpose of enhancing urban services and tourist amenities in the northeastern state of Tripura. The loan amount was US$100 million.

According to an official announcement, Nilay Mitash, Officer-in-Charge of ADB's India Resident Mission, and Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Government of India, signed the financing agreement for the Tripura Urban and Tourism Development Project.

Following the loan agreement's signature, Mukherjee said that in addition to modernizing popular tourist spots, the project would enhance Tripura's important tourist sites and municipal infrastructure and public services in urban local bodies (ULBs) along major national roads.

"This project will support the state as a gateway to the North-Eastern region through establishing tourist destinations along the highways improved improving urban governance improved financial sustainability through better resource mobilization as well as credit eligibility," Mitash said.

He went on to say that ULBs' ability to undertake integrated planning—which includes identifying community and private sector collaborations for tourism and marketing—as well as climate and disaster resilience, would be strengthened by ADB funding.

According to the project's description, four new water treatment facilities, fifty-two kilometers of new transmission and distribution pipelines, and fifty-five kilometers of upgraded storm water drains will be installed to improve urban water supply systems.

According to the statement, it would enhance 21 kilometers of urban roadways with amenities that are intended to meet the requirements of women, children, the elderly, and the handicapped. PTI DP TRB