Thursday April 19, 2018
Home Business Deal signed f...

Deal signed for improvement of two northeastern states

0
//
85
earthquake
Republish
Reprint

Agartala: To improve the infrastructure of two northeastern states Tripura and Mizoram, the government and Asian Development Bank (ADB) have signed an $80-million loan on Thursday.

“The loan is the third tranche of a $200-million financing facility under the North Eastern Region Capital Cities Development Investment Program and will be used for investments in water supply, solid waste management and sanitation in Agartala and Aizawl,” the Ministry of Finance said in a statement.

“It will also support urban reforms, benefiting nearly a million people in the two cities,” it added.

Not only these two cities, previous programme tranches have provided assistance to three other cities in the northeast Shillong, Kohima, and Gangtok, the capital cities of Meghalaya, Nagaland and Sikkim, respectively.

Joint Secretary (multilateral institutions) in the department of economic affairs, Ministry of Finance, Raj Kumar, signed the agreement on Thursday on behalf of the Indian government

On the other side, Teresa Kho, country director in ADB’s India resident mission, signed on behalf of the ADB.

Whereas separate sub-project agreements were signed between central government officials and representatives of the governments of Tripura and Mizoram.

“The loan will support further investments to increase access to sustainable and improved urban services, with Aizwal and Agartala cities, selected for financing under the third tranche of the programme based on their progress on reforms and implementation performance under earlier tranches,” the Ministry statement said.

The third tranche loan from ADB’s ordinary capital resources has a 20-year term and it’s the responsibility of the Urban Development Ministry to implement the third tranche’s activities and overall programme, which are both due for completion by June 2019.

Manila-based ADB works to reduce poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members, including 48 from the region.(IANS)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

No proposal to scrap Article 370: Centre

The Central government has no proposal to scrap Article 370 of the Constitution which gives special status to Jammu and Kashmir

0
//
15
The Central government has no proposal to scrap Article 370 of the Constitution: Hansraj Gangaram Ahir

The Central government has no proposal to scrap Article 370 of the Constitution which gives special status to Jammu and Kashmir, Minister of State for Home Affairs Hansraj Gangaram Ahir said on Tuesday.

Responding to a written question in the Lok Sabha, Ahir said: “There is currently no such proposal under consideration of the government.”

Any new law initiated by the government should be in accordance with the constitution. Wikimedia Commons
No plan to scrap article 370. Wikimedia Commons

The article, added to the Constitution by a Presidential Order in 1954, accords special rights and privileges to the people of Jammu and Kashmir and empowers its legislature to frame any law without attracting a legal challenge.

Also Read: Supreme Court seeks Centre’s response on plea challenging polygamy, nikah halala

The provision prohibits all Indians — except people from Jammu and Kashmir — from purchasing immovable property in the state, getting government jobs and availing state-sponsored scholarship schemes. IANS

Next Story

Reasons Why India Has Become a Call Center Hub

Experts are expecting the industry to grow considerably in the coming years on account of a steady influx of foreign investors

0
//
58