The Tripura Government has signed a MoU on Loan Agreement with the Asian Development Bank (ADB) on Friday.
In its ambitious target of creating a thriving tourism sector as well as pushing developmental activities in urban areas to a new height, Tripura Government has made a significant step forward.
The State is all set to push major projects for development of Urban Areas and Tourism sector very soon as the BJP-IPFT led Tripura Government has signed a Loan Agreement with the Asian Development Bank (ADB) on Friday. An official release confirmed the inking of the Agreement.
On behalf of Tripura, Resident Commissioner Chitanya Murti has signed the Loan Negotiation documents of Project Readiness Finance (PRF) with Takeo Kanishi, Country Director, ADB in presence of Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance.
Under the loan arrangement, initially, the ADB would provide Rs. 40 crore for engagement of Project Design and Management consultants for Urban and Tourism Sectors. In the urban sector, all of the 20 Local Bodies in Tripura will be covered.
In the Tourism sector, all tourism destinations, roads leading to them and tourist facilities will be covered.
Once the projects are prepared, the ADB will provide Rs. 1600 crore for development works in urban areas and Rs. 500 crore in tourism sector over the next three years.
Government of Tripura has already embarked on ambitious urban areas developmental programmes. With expansion of areas of existing Urban civic bodies, several areas have now come under the ambit of Urban local bodies. Creating adequate basic amenities and a holistic development of urban areas are one of the priority sectors of the Government. With a Loan Agreement signing, developmental activities would get a much needed boost, opined experts.
Tourism is another sector in which the State Government is looking in a big way. Recently, adventure tourism facilities have been introduced at Chabimura to make Tripura tourism more attractive. Apart from nature’s unique scenic beauty, Tripura Tourism offers spiritual tourism, archaeological tourism etc. According to informed sources, the Loan agreement with ADB would help immensely in improving tourism infrastructure – particularly renovating the roads leading to tourist spots and beautification drive.