In a bid to improve the infrastructure of nation’s two north eastern capital cities, GOI has signed loan concord of $80million with Manila, Philippines headquartered Asian Development Bank (ADB) as a part of North Eastern Region Capital cities Development Investment Program.
- The accord was signed by Shri Raj Kumar, Joint Secretary (DEA) and Ms Teresa Kho, Country Director, ADB’s India Resident Mission.
- This newly succored loan is a third tranche of a $200 million financing facility under Eastern capital cities Development Investment Program.
3rd tranche loan term – 20 years
Completion of programme – June 2019
Ministry Responsible – Union Ministry of Urban Development (Venkaiah Naidu)
Where loan amount will be used?
The loan amount will be used for investments in water supply, solid waste management and sanitation in Agartala and Aizwal.
- It will also help both cities to improve and expand their services.
- It will be used in strengthening the institutional, managerial and financial capacity of service institutions.
- The loan will support further investments to increase access to sustainable and improved urban services in Aizwal and Agartala.
Established in 1966, ADB aims to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration.
Mizoram Capital – Aizawl
Tripura Capital – Agartala
Mizoram CM – Lal Thanhawla
Tripura CM – Manik Sarkar