The Asian Development Bank (ADB) and the Government of India signed $80 million loan agreement to continue improving infrastructure in two North Eastern State Capital cities. The loan is the third tranche of a $200 million financing facility under the North Eastern Region Capital cities Development Investment Program and will be used for investments in water supply, solid waste management and sanitation in Agartala and Aizwal.
It will also support urban reforms, benefiting nearly a million people in the two cities. Previous program tranches have provided assistance to five other cities in the Northeast—Shillong (Meghalaya), Aizawl (Mizoram), Kohima (Nagaland), Gangtok (Sikkim) and Agartala (Tripura).
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).
Urban infrastructure and services in the northeast of the country are grossly inadequate and this third tranche loan will help Agartala and Aizwal improve and expand services, as well as strengthening the institutional, managerial, and financial capacity of service institutions.
Did You Know???
- ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
- Established in 1966, it is owned by 67 members – 48 from the region.
