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Rs 1650 cr ADB loan for Tripura towns development
Tripura

Rs 1650 cr ADB loan for Tripura towns development

Agency News

Agartala, June 16: Asian Development Bank (ADB) has approved a project amounting to Rs. 1650 cr (235 million US dollar) submitted by Tripura government for infrastructure development in seven district headquarters of the state except for capital city.

According to report, the project included piped water supply, underground drainage, underground sewage or scientific seepage management and roads with pavement in seven district headquarters - Khowai, Ambassa, Dharmanagar, Kailashahar, Udaipur, Bishramganj and Belonia.

The Asian Development Bank will provide Rs 1650 cr out of which 80 per cent is grant-in-aid and the state will have to repay back only 20 per cent loan in due course of time.

Department of Economic Affairs (DEA) under Union Ministry of Finance had approved the project in its 89th Screening Committee meeting held in November last year.

The Ministry of External Affairs, Ministry of Housing and Urban Affairs and Ministry of Home Affairs approved the project. Accordingly, ADB had sent a Consultation Mission to Agartala on December 21, 2018, to seek the feasibility of Project Readiness Financing (PFR) and Technical Assistance (TA) for preparations of DPRs. The ADB recommended for PFR and TA of Rs. 21 crore for this project.

To generate the opportunity for own funding, Tripura government has constituted a separate body to generate infrastructure development fund under which the board will approach all the government departments and undertakings to deposit money in their account instead of savings in banks. The board will offer the same benefits and assurance to the depositors and the fund raised by the board would be spent for infrastructure in the state.
UNI