AfDB offers $2 million loan to support urban development projects in Nagaland



NNA |
Update:
April 12, 2022 5:42 p.m. STI

New Delhi [India]April 12 (ANI): The Asian Development Bank (AfDB) on Tuesday signed an agreement with the Government of India to offer a $2 million Project Preparation Facility (PRF) loan for urban infrastructure design resilience, building institutional capacity and improving municipal resources. mobilization in Nagaland.
The signatories of the Project Preparation Fund (PRF) for the Nagaland Urban Infrastructure Development Project were Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance who signed for the Government of India, and Takeo Konishi, Director National Indian Resident Mission of the AfDB who has signed for the AfDB, according to a statement released by the AfDB.

“AfDB financing will ensure a high level of project readiness as a result by preparing an urban sector strategy, undertaking feasibility studies and detailed engineering designs of selected sub-projects, and building the capacity of agencies at the state level in project implementation, resource mobilization and anchoring reforms,” Mr. Konishi said.
The PRF loan will help design water supply, sanitation, solid waste management and urban roads in 16 district capitals of Nagaland with climate-resilient features and improved access to the poor and vulnerable.
Strengthening the capacities of State agencies will contribute to increasing the mobilization of the own resources of urban local bodies (ULB), improving their preparation for the implementation of the resulting project and initiating sectoral and institutional reforms, according to the press release. (ANI)