IndiGlobal Bureau
The Asian Development Bank (ADB) and the Government of India signed $520 million loan to improve road connectivity in Assam and to strengthen power sector in Tripura. Of this $300 million loan is to upgrade over 300 kilometres of state highways and major district roads (MDRs) in Assam.
The signatories to the Assam South Asia Subregional Economic Cooperation (SASEC) Corridor Connectivity Improvement Project were Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Nilaya Mitash, Officer-in-Charge of ADB’s India Resident Mission, who signed for ADB.
After signing the loan agreement, Mishra stated that the project supports the Government of Assam’s flagship Asom Mala road improvement program to enhance the quality and service of priority sections of state highway and MDR networks and fill critical infrastructure gaps.
“Improved connectivity and safe road networks developed through the project will enhance mobility and accessibility of people in the less developed areas of the state to markets and services to spur growth and contribute to its potential as a growth catalyst for the SASEC region,” said Mr Mitash.
The roads to be upgraded under the project, including six road sections in the state’s western, central and southern regions, are connected to SASEC corridors linking India with Bhutan and Bangladesh, and are expected to boost cross-border trade and transport. The project will expand state highways and major district roads from single lane to two lanes and introduce new climate- and disaster-resilient structures. It will establish pedestrian and public transport facilities, elevate highways in flood-prone areas, and include landslide prevention structures in hilly and mountainous areas.
ADB to give $220 million loan for Tripura
The Asian Development Bank (ADB) and the Government of India signed a $220 million loan to improve energy security, quality of supply, efficiency, and resilience of power sector in Tripura.
The signatories to the Tripura Power Distribution Strengthening and Generation Efficiency Improvement Project were Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Mr Hoe Yun Jeong, Officer-in-Charge of ADB’s India Resident Mission, who signed for ADB.
Elaborating details, Mishra stated that the project will support the Government of Tripura’s efforts to strengthen its power sector through replacement of inefficient power plants, strengthen the distribution network and installation of smart meters that will help increase generation capacity, reduce distribution losses and to meet the increasing electricity demand to boost the state economy.
“The Project will fund the replacement of Rokhia power plant with a highly efficient combined cycle gas turbine that will reduce greenhouse gas emissions through fuel saving, modernize the state’s power distribution network and build institutional capacity and overall business process of the project executing agencies,” said Mr. Jeong.