The Asian Development Bank (ADB) and the Government of India on Friday 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. This is ADB’s first PRF facility for a state in the Northeastern region of India, the Union Finance Ministry said.
ADB, India sign $4.21-million facility to support preparation of development projects in Tripura
The ADB's first PTF facility in Northeast India 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.
Updated 19 Dec 2020, 4:08 pm
The signatories to the PRF for Tripura Urban and Tourism Development Project were Dr CS 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, the ministry stated in a release.
Dr 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.
The ministry further said that Konishi said 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 subprojects.
Inadequate urban infrastructure and low institutional capacity of urban local bodies (ULBs) have impeded urbanization-led growth in Tripura, the ministry said. It said that the PRF will help finance preparation of integrated infrastructure development plans for seven 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. The PRF will support the state government’s objectives of improving the contribution of tourism to the economy and will support the 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 added.
First published:19 Dec 2020, 7:24 am