What : ADB has sanctioned an $50 mn loan
Who : North-Eastern cities of Agartala and Aizawl
Why : Improving infrastructure
When : January 28,2016
The Asian Development Bank (ADB) has signed a $80-million loan agreement with the Centre to help continue improving infrastructure in the two North-Eastern cities of Agartala and Aizawl.
The loan is the third tranche of $200-million financing facility under the North Eastern Region Capital Cities Development Investment Program.
This will be used for investments in water supply, solid waste management and sanitation in the two cities.
The loan will also support urban reforms, benefiting nearly a million people.
Previous program tranches have provided assistance to five other cities in the Northeast-Shillong (Meghalaya), Aizawl (Mizoram), Kohima (Nagaland), Gangtok (Sikkim) and Agartala (Tripura), an official release said.
The loan agreement was signed by Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance on behalf of Government of India and Ms Teresa Kho, Country Director, ADB’s India Resident Mission on behalf of Asian Development Bank (ADB).
Separate sub-project agreements under the third tranche were also signed.