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The first installment was sanctioned under the department of economic affairs of the Union ministry of finance on October 10
The first installment was sanctioned under the department of economic affairs of the Union ministry of finance on October 10|Representational image
TRIPURA

Tripura: Centre approves first installment of Rs 1,650-cr ADB loan

The amount would be mainly used for conducting engineering survey, preparing estimates and DPRs for road, water supply and drainage projects, among others

Chandan Panday

Chandan Panday

Agartala: The first installment of Asian Development Bank (ADB) loan for development of seven district headquarters has been approved by the Centre, said a press release from the state chief minister’s office (CMO) on Friday.

“The department of economic affairs, government of India has given approval the first installment of ADB Loan to take up Development of seven district headquarters (other than Agartala) through urban development department, government of Tripura,” the press note said.

The total ADB loan is of Rs 1,650 crore which will be available in next three years for the development of urban infrastructure in Kailashahar, Dharmanagar, Ambassa, Khowai, Belonia, Udaipur towns and also Bishramganj as district headquarters.

The press note also said that the first installment was sanctioned under the department of economic affairs, ministry of finance, government of India on October 10, as project readiness finance of $2.5 million (about Rs 17.75 crore).

The approved amount would be mainly used for conducting engineering survey, preparing estimates and DPRs for road, water supply, drainage, sewerage and major urban infrastructure works in these seven towns, the statement read.

With this sanction, the long-awaited development of seven district headquarters has got a major push as each town will get about Rs 200 - 250 crore over the next three years. These large-scale infrastructure works will help in the development of municipal services in the district headquarter towns.

Earlier, the department of economic affairs (DEA) under the union ministry of finance approved the project in its 89th screening committee meeting held in North Block, New Delhi on November 15 last year.

Subsequently, the Union ministry of external affairs, ministry of housing and urban affairs and ministry of home affairs approved this project.

The ADB will provide Rs 1,650 crore, of which 80% is grant-in-aid. The state will have to repay 20% loan in due course of time, said a senior official.