ADB Signs Loan Agreement For Tripura Urban & Tourism Development Project

Utkarsh Classes Last Updated 23-12-2023

ADB Signs Loan Agreement For Tripura Urban & Tourism Development Project

State news 4 min read

The Government of India signed an agreement with the Asian Development Bank (ADB) to access a loan of US$100 million to improve urban services and tourism facilities in the northeastern state of Tripura.

Ms. Juhi Mukherjee, Joint Secretary of the Department of Economic Affairs in the Ministry of Finance, signed the loan agreement on behalf of the Government of India. Mr. Nilay Mitash, Officer-in-Charge of ADB's Resident Mission in India, signed on behalf of ADB.

Purpose of the agreement:

The project will improve municipal infrastructure and public services in Urban Local Bodies (ULBs) along the main National Highways in Tripura. It will also upgrade major tourist destinations.

Key points of the agreement:

The project will develop urban water supply systems by installing 42 kilometres (km) of new transmission and distribution pipes.
The project will install 4 new water treatment plants and improve 55 kilometres of rainwater drainage drains.
Under the agreement, 21 kilometres of urban roads will be improved with features designed to meet the needs of the elderly, women, children and persons with disabilities.
The project will help 12 urban local bodies improve urban services by training them on infrastructure planning, operation and maintenance, financial management, gender equality, social inclusion, and project management.
ADB will upgrade tourist sites like Chaturdash Devta Temple, Kasba Kalibari, and Neermahal Palace. This will include improving facilities, rooms, landscaping, and making them more tourist- and gender-friendly.
The agreement will set up a digital museum and a new adventure park.

Asian Development Bank (ADB):

The Asian Development Bank (ADB) is a regional development bank.
It was established on December 19, 1966.
ADB has a total of 68 members. India is a founding member of ADB.
Of the total members, 49 member countries are from the Asia-Pacific region, while 19 members are from other regions.
Its objective is to promote social and economic development in Asia.
Headquarters – Mandaluyong, Metro Manila, Philippines
ADB President: Masatsugu Asakawa

About Tripura:

Capital- Agartala
Chief Minister – Manik Saha
Lok Sabha Seat - 2
Rajya Sabha seat - 1
State Animal – Fairey Monkey
State Bird – Green Imperial Pigeon
National Parks – Clouded Leopard National Park, Roa Wildlife Sanctuary, Bison National Park, Trishna Wildlife Sanctuary
Dam – Gumti Hydro Dam