Union Government signed loan deal with ADB for infrastructure in Agartala & Aizwal

Jan 29, 2016 08:00 IST

The Union Government on 28 January 2016 signed an 80million US dollar loan agreement with the Asian Development Bank (ADB) to continue improving infrastructure in Agartala (Tripura) and Aizwal (Mizoram).

The loan agreement was signed by Raj Kumar, Joint Secretary ministry of Finance and Teresa Kho, Country Director, ADB.

The loan is the third tranche of a 200 million US dollar financing facility under the North Eastern Region Capital cities Development Investment Programme. It will be used for investments in water supply, solid waste management and sanitation in the two North Eastern capital cities.

It will also support urban reforms, benefiting nearly a million people in the two cities.

The third tranche loan from ADB’s ordinary capital resources has a 20-year term. The Ministry of Urban Development is responsible for implementing the tranche 3 activities and overall program, which are both due for completion by June 2019.

Previous program tranches have provided assistance to five other cities in the Northeast—Shillong (Meghalaya), Aizawl (Mizoram), Kohima (Nagaland), Gangtok (Sikkim) and Agartala (Tripura).

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK