India, ADB sign $4.21 mn PRF for Tripura urban infra & tourism development project

New Delhi: The Asian Development Bank (ADB) and the Government of India signed a $4.21 million project readiness financing (PRF) facility for the preparation of infrastructure development projects to improve urban amenities and develop tourism infrastructure in the northeastern state of Tripura on Friday, 18th December. This is ADB’s first PRF facility for a state in the northeastern region of India, according to a press communication from the Ministry of Finance. The signatories to the PRF for Tripura Urban and Tourism Development Project (TUTDP) were C. S. Mohapatra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Takeo Konishi, Country Director of ADB’s India Resident Mission who signed for ADB.

Addl. Secretary Mohapatra said that the facility will support the Government of Tripura’s priorities of improving urban services and tourism infrastructure through holistic planning by developing key infrastructure investment projects and related reforms in these sectors that will help boost economic development.

Director Konishi said that the facility aims to ensure high readiness of ensuing infrastructure projects through feasibility studies, preparing detailed engineering designs, and capacity building of state level agencies while ensuring climate and disaster resilience, inclusiveness, and sustainability of sub-projects.

Inadequate urban infrastructure and low institutional capacity of urban local bodies (ULBs) have impeded urbanisation-led growth in Tripura, the Finance Ministry stated, adding that the PRF will help finance preparation of integrated infrastructure development plans for 7 districts headquarter towns (DHT) and 13 ULBs focused on water supply, sanitation, stormwater drainage, urban roads, and urban amenities.

The state’s tourism growth is also hindered by inadequate infrastructure and lack of planned activities, stated the Finance Ministry, adding that the PRF will support the state government’s objectives of improving contribution of tourism to the economy and will support development of integrated tourism infrastructure plans. These include provisioning of amenities and improving road connectivity to the tourist destinations together with marketing and promotion strategies.

The Ministry stated that ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members, 49 of whom are from the region.

Also read: India, ADB sign $300 mn loan for UP power project, electricity supply to agri & residential consumers


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The ID Staff

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