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| $200 million ADB loan for urban infra |
| BS Reporter / Kolkata/ Guwahati Aug 08, 2009, 00:45 IST |
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The Centre has signed a loan agreement of $ 200 million with Asian Development Bank for developing urban infrastructure in 5 capital cities of North-Eastern states and the East-West highway project.
The first trache of the project amounts for $ 30 million. The purpose and objective of the Project-1 is to improve the quality of life for 1.2 million people and enhance urban productivity in the five capital cities namely Agartala (Tripura), Aizwal (Mizoram), Shillong (Meghalaya), Kohima (Nagaland) and Gangtok (Sikkim) of 5 North-Eastern States.
These would be achieved through increasing the access to urban infrastructure and services of the city populations; supporting urban institutional, management, service delivery; financial reforms to create an environment and capacities for sustainable provision of urban infrastructure and services, an official press release said.
Ministry of urban development through the state governments of Meghalaya, Mizoram, Nagaland, Sikkim and Tripura would be the executing agencies.
Under the National Highway Corridor (Sector I) Project, ADB would provide a loan of US$ 100 million.
The purpose and objective is to rehabilitate and widen priority sections of the East-West Corridor, with emphasis on 662 km of existing highway in the states of Rajasthan, Madhya Pradesh, and Uttar Pradesh. The initial loan agreement was signed on 27 October, 2004 for ADB's assistance of $ 400 million.
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