Tripura: ADB sanctions funds of Rs 550 crore for three projects under Agartala Smart City

The Asian Development Bank has sanctioned a fund of Rs 550 crore for three projects under Agartala Smart City Limited in Tripura in order to revitalise various locations and retrofit certain roads in Agartala.

According to a higher official who requested anonymity, an Asian Development Bank (ADB) delegation led by Bhavesh Kumar met with Agartala Smart City Limited (ASCL) team members led by its Chief Executive Officer (CEO) and Agartala Municipal Corporation's Municipal Commissioner Sailesh Kumar Yadav on Friday last at Urban Development (UD) Bhavan here in Agartala.

The meeting focused on the 'Loan Inception Mission.' Three ADB-funded projects are being implemented by ASCL in Tripura's capital city. ADB has approved a loan of 76.25 million dollars, which is equivalent to Rs 550 crore in Indian currency. He went on to say that the projects are in the works.

According to the official, "Smart road in 15 stretches, totaling 23 KMs, retrofitting of roads in Agartala city would cost Rs 444,06,70,678.47." The cost of revitalising Maharaja Bir Bikram College Lake and its surrounding areas is Rs 30,67,94,895.15. Ujjayanta Palace Gardens' revitalization and restoration  would cost Rs 35,68,76,451.07."

From the end of ASCL, Yadav was accompanied by Chief Financial Officer Ashim Saha, Environmental and Social Nodal Officer Mautusi Chaudhuri, and design experts and engineers.

"This is a loan inception process. Some funds have already been released, while Rs 23-25 crore has already been spent, and the ADB has reimbursed us," the official continued.

A delegation led by Didier Talpain, Consul General of France at the Embassy of France in Kolkata, as well as members of the French Development Agency (FDA) and representatives from the National Institute of Urban Affairs, recently visited the rehabilitated families of Haora River Front Development.