On December 18, 2020 The Asian Development Bank (ADB) and Government of India signed a $4.21 million(Around 31 Crore) Project Readiness Financing (PRF) facility for Tripura Urban and Tourism Development Project. This is ADB’s 1st PRF facility for a Northeastern state of India.
Purpose
The facility will enhance the infrastructure development projects & will improve the urban amenities and develop tourism infrastructure projects in the Tripura.
Key People
Dr. C. S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance signed the facility on behalf of Govt of India and Takeo Konishi, Country Director of ADB’s India Resident Mission on behalf of ADB.
Highlights of PRF Facility
Finance
PRF helps finance the preparation of integrated infrastructure development plans for the 7 Districts Headquarter Towns (DHT) and 13 Urban Local Bodies (ULBs) focused on water supply, sanitation, storm water drainage, urban roads, and urban amenities.
Support
i.It supports the priorities of the Tripura govt to improve urban services and tourism through comprehensive planning by developing key infrastructure investment projects and related reforms in these sectors that helps to boost economic development.
ii.It also supports the objective of the govt to improve the tourism’s contribution to the economy and also supports development of integrated tourism infrastructure plans
iii.These include, providing amenities and improving road connectivity to the tourist destinations jointly with the marketing and promotion strategies.
Ensure greater readiness
The facility by preparing feasibility studies, detailed engineering designs, and capacity building of state level agencies aims to ensure greater readiness for assuring infrastructure projects, while also ensuring climate and disaster resilience, inclusiveness and sustainability of sub projects.
Recent Related News:
On 22nd November 2020, The Government of Himachal Pradesh(HP) partnered with Asian Development Bank(ADB) to improve the infrastructure in Mandi, Himachal Pradesh. Jai Ram Thakur, Chief Minister of HP virtually inaugurated and laid foundation stones for various development programs worth Rs.15 crores in Mandi district of HP.
About Asian Development Bank (ADB):
Establishment– 1966
President– Masatsugu Asakawa
Headquarters– Mandaluyong City, Manila, Philippines
Membership– 68 countries (Including India)
About Tripura:
National Park– Clouded Leopard National Park, Bison National Park
Zoo– Sepahijala Zoo
