Indian government signs $4.21 million PRF with ADB for Tripura development

Tuesday, December 22, 2020

Recently, the Indian government and the Asian Development Bank have signed a $4.21 million project readiness finance or PRF for the growth and expansion of Tripura’s urban amenities and tourism. For Tripura, this is ADB’s first PRF facility.

Chaitanya Murti, the resident commissioner of Tripura, has signed the loan negotiation documents of Project Readiness Finance with Takeo Kanishi, country director, ADB in the presence of Dr. C.S. Mohapatra, additional secretary department of economic affairs, ministry of finance.

Dr. Mohapatra explained that the facility will help Tripura government’s priorities in developing the urban services and tourism infrastructure with the help of holistic planning by setting up of key infrastructure investment projects and related reforms in these two areas that would eventually boost up the economic development.

Konishi stated that the facility is all set to make sure high readiness of ensuing infrastructure projects via feasibility studies, arranging comprehensive engineering designs, and building capacity of state-level agencies while ensuring climate and disaster resilience, inclusiveness and sustainability of subprojects.

ADB under the loan arrangement will provide Rs. 40 Crore for engagement of project design and management consultants for urban and tourism, reads the press statement issued by the office of the CM. Tripura’s 13 urban local bodies will be covered in the urban sector. All tourism destinations, roads to take there and tourist facilities will be covered in tourism.

Once the projects are prepared, for development works in urban areas, ADB will offer Rs. 1600 Crore and Rs. 500 crore in the tourism over the next 3 years.

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