India And ADB Sign $26 Million Loan Agreement For Additional Financing To Assam Urban Project
The Government of India and the Asian Development Bank (ADB) signed in New Delhi a $26 Million Loan Agreement to provide additional financing for improving drainage infrastructure in Dibrugarh town of Assam under the ongoing Assam Urban Infrastructure Investment Program.
The ongoing Loan of $51 Million under the Program is helping to improve water supply infrastructure in Guwahati, and solid waste management and drainage infrastructure in Guwahati and Dibrugarh cities of Assam. The additional financing will further support in improving the drainage system in Dibrugarh and also support project management activities.
Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance said that the additional financing for the Project is expected to help Dibrugarh town in evacuating flood waters from the city through desilting, widening and lining of the drains and it will help in controlling flooding in the city who signed the Agreement for the Government of India.
Mr Hoe Yun Jeong, OIC, India Resident Mission, who signed the Agreement on behalf of ADB said that the improved drainage will help reducing disruption of economic activity in Dibrugarh, which is prone to water-logging due to floods.
The Program was approved in 2011 for improving urban infrastructure in the two key Assam cities.