Govt inks $61 mn loan pact with ADB for development projects in Agartala

urban development | Development
Press Trust of India  |  New Delhi

The central government has inked a pact with multi-lateral funding agency Asian Bank for USD 61 million (around Rs 454 crore) loan to fund projects in Agartala, Tripura.
The government and Asian Bank (ADB) have signed a USD 61 million loan to improve livability, harness technology and promote new developments to accommodate the expanding population in Agartala city while building the capacity of state agencies for improved service delivery, an official release said on Monday.

The loan agreement for the Agartala City Project was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the government and Takeo Konishi, Country Director of ADB's India Resident Mission.
The project is aligned to the vision of the government Smart City Mission to upgrade urban infrastructure services and will improve livability in Agartala with the provision of better road connectivity, flood resilient measures and making tourist places more attractive, Mishra said.
"Through this project, ADB will catalyse synergies with the smart city components being implemented in Agartala through an underground utility corridor with the shifting of electrical lines, incorporating elderly, women, children, and differently-abled responsive features, improving road geometry along with urban design interventions," Konishi said
The provision of asset management and sustainability strategy, capacity-building of tourism operators and livelihood improvement of street vendors and artisans will serve as a model to other assets and tourist attractions in Agartala, and other cities in Tripura, he added.
The project will build and upgrade 48 kilometres of new or existing stormwater drainage and construct 23 km of climate-resilient urban roads.
It will also fund the renovation of open spaces and create water recreation and lakeside walkways in Maharaja Bir Bikram College Lake and Ujjayanta Palace -- major tourist attractions in the city.
Developing Agartala's central and north zones as models of area-based development following the principles of the smart city mission initiative is expected to have a ripple effect on other parts of the city and nearby cities and towns by making urban areas more livable, citizen-friendly, resilient, and sustainable, the release said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor
Copyrights © 2021 Business Standard Private Ltd. All rights reserved.
Business Standard
Upgrade To Premium Services
Business Standard is happy to inform you of the launch of "Business Standard Premium Services"
As a premium subscriber you get an across device unfettered access to a range of services which include:
Business Standard
Premium Services
In Partnership with Fis Logo
Dear Guest,
Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard


Leave a Reply

Your email address will not be published. Required fields are marked *

  ⁄  2  =  three