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India, ADB sign loan deal on Aizawl, Agartala infrastructure

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  29 Jan 2016 12:00 AM GMT

New Delhi, Jan 28: The government and the ADB on Thursday signed an $80-million loan agreement to continue improving infrastructure in Agartala and Aizawl, the capitals of the northeastern states of Tripura and Mizoram.

“The loan is the third tranche of a $200-million fincing facility under the North Eastern Region Capital Cities Development Investment Programme and will be used for investments in water supply, solid waste magement and sanitation in Agartala and Aizawl,” the fince ministry said in a statement.

“It will also support urban reforms, benefiting nearly a million people in the two cities,” it added.

Previous programme tranches have provided assistance to three other cities in the northeast — Shillong, Kohima, and Gangtok, the capital cities of Meghalaya, galand and Sikkim, respectively.

Thursday’s agreement was signed on behalf of the Indian government by Raj Kumar, joint secretary for multilateral institutions in the department of economic affairs under the fince ministry.

Teresa Kho, country director in the Asian Development Bank’s India resident mission, signed on behalf of the ADB.

Separate sub-project agreements were also signed between central government officials and representatives of the governments of Tripura and Mizoram. “The loan will support further investments to increase access to sustaible and improved urban services, with Aizawl and Agartala cities, selected for fincing under the third tranche of the programme based on their progress on reforms and implementation performance under earlier tranches,” the ministry statement said.

The third tranche loan from the ADB’s ordiry capital resources has a 20-year term and the urban development ministry is responsible for implementing the third tranche’s activities and overall programme, which are both due for completion by June 2019.

Manila-based ADB works to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustaible growth, and regiol integration. Established in 1966, it is owned by 67 members, including 48 from the region.(IANS)

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