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Friday, 29 January 2016

The Asian Development Bank:ADB loan to benefit 2 cities

The Asian Development Bank:ADB loan to benefit 2 cities

A STAFF REPORTER

Guwahati, Jan. 28: The Asian Development Bank and the Centre today signed an $80 million loan agreement in New Delhi to continue improving infrastructure in Agartala and Aizawl.

The loan is the third tranche of a $200 million financing facility under the North Eastern Region Capital cities Development Investment Programme and will be used for investments in water supply, solid waste management and sanitation.

It will support urban reforms, benefiting nearly a million people in the two cities.

Official sources said the loan agreement was signed by Raj Kumar, joint secretary (multilateral institutions), department of economic affairs, ministry of finance, on behalf of the Centre and Teresa Kho, country director, ADB's India Resident Mission. The ministry of urban development is responsible for implementing the programme, due for completion by June 2019.

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