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An official said on Tuesday that the Asian Development Bank (ADB) has approved a loan totaling approximately Rs 4.58 billion to strengthen the urban infrastructure in Agartala, the capital of Tripura.He said that financial support will be provided to use technology and promote new development to accommodate the growing population of Agartala.
The official said that Agartala is one of the fastest-growing cities in the country. It is strategically located close to the Bangladesh-Bhutan-India-Nepal Economic Corridor and has the potential to become a commercial center in the Northeast.
Pedro Almeida, ADB South Asia Urban Development Specialist, said: “ADB’s support is in line with the center’s smart city mission plan, which will promote economic growth through local development.”The official said that the project will upgrade the city’s urban infrastructure and services to promote economic recovery and improve the quality of life of residents.
“@ADB_HQ approved a loan of 61 million U.S. dollars and a (USD) 1 million technical assistance (TA) grant for the urban development of Agartala. With this financial support, #Tripura will follow Hon’ ble PM Shri @narendramodi envisions the path forward to becoming a model country,” Chief Minister Biplab Kumar Deb said on Twitter on Monday.
The loan amount will be used to upgrade 48 kilometers of drainage facilities and construct 23 kilometers of climate-adaptable roads.The project will revitalize the city by renovating open spaces and constructing water entertainment facilities and lakeside walkways at Maharaja Bir Bikram College Lake and Ujjayanta Palace.
The official added that, in addition, ADB will provide US$1 million in technical assistance grants to support capacity building and awareness-raising activities for the project.
Complete News Source : Republicworld.com
