PIB News Update: The Asian Development Bank (ADB) and the Government of India today 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 signatories to the PRF for Tripura Urban and Tourism Development Project were Dr. C. S. Mohapatra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Mr. Takeo Konishi, Country Director of ADB’s India Resident Mission who signed for ADB.
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.
Mr 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 subprojects.
Inadequate urban infrastructure and low institutional capacity of urban local bodies (ULBs) have impeded urbanization-led growth in Tripura. 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, storm water 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 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.
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 from the region.