Dimapur, August 6 (MExN): The centre has signed the Asian Development Bank loan agreements relating to the North Eastern Region Capital Cities Development Investment Program and National Highway Corridor Project. A PIB release today said Joint Secretary of Ministry of Finance Dr. Anup K. Pujari, signed the loans on behalf of the Government of India while ADB’s Office-in-Charge of India Resident Mission Prodyut Dutt, signed on behalf of ADB. The NE Capital Cities Development Program is for US$ 200 million amounting to US $ 30 million. The purpose and objective of the project is to improve the quality of life for 1.2 million people and enhance urban productivity in the five capital towns of Agartala (Tripura), Aizwal (Mizoram), Shillong (Meghalaya), Kohima (Nagaland) and Gangtok (Sikkim).
The development objectives would be achieved through increasing 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. The 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, PIB stated, the bank would provide 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, PIB said. The initial loan agreement was signed on October 27, 2004 for ADB’s assistance of US $ 400 million.
