ADB greenlights USD85.4 mn loan to enhance industrial infrastructure in India
(MENAFN) The Asian Development Bank (ADB) revealed on Tuesday its approval of an $85.4 million loan aimed at upgrading critical industrial infrastructure in Tripura, a northeastern Indian state. This investment is designed to bolster the competitiveness of the region's manufacturing sector.
Sameer Khatiwada, ADB Senior Public Sector Economist, stated, "The lack of quality infrastructure significantly constrains Tripura's ability to attract private investment into manufacturing and accelerate industrialization." He further noted, "The project will address this gap by expanding transport, electricity, water, and sanitation infrastructure in the industrial estates, while strengthening institutional structures to improve the business environment."
The Manila-based financial institution has outlined plans for significant infrastructure enhancements, which will include the development of climate-resilient roads, stormwater drainage systems, and culverts, along with rainwater harvesting systems.
Further improvements will aim to establish energy-efficient power distribution networks, implement solar power installations, and construct streetlights, fire stations, weighbridges, and security systems.
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