India signs $80 Million Loan agreement with ADB to Improve Urban Services in Agartala and Aizwal [ Current Affairs ]


About the agreement of India and ADB: Union Government and Asian Development Bank have signed $80million loan agreement to improve urban services in two North Eastern cities Agartala of Tripura and Aizwal of Mizoram.

  • This loan agreement is the third tranche of a $200 million which is the financing facility of ADB under its North Eastern Region Capital cities Development Investment (NERCDI) Program.

The uses of loan:

  • The funds of this loan will be used for investments in water supply, health and solid waste management in Agartala and Aizwal.
  • It will support urban improvements as well as strengthen the institutional, managerial and financial capacity in both cities.
  • This ADB’s third tranche loan is in the form of regular capital incomes in terms of 20-years.
  • The Union Ministry of Urban Development is nodal agency for applying the tranche three activities and complete program.

About Asian Development Bank:

  • Asian Development Bank (ADB) is located in Metro Manila of Philippines.
  • It was established in 1966 to promote social and economic development in Asia.
  • It is owned by 67 members till its establishment from 31 members.

- Published on: February 1, 2016