The Asian Development Bank (ADB) and the Government of India signed an agreement to provide a $2 million project readiness financing (PRF) loan to Nagaland for the design of climate-resilient urban infrastructure, strengthening institutional capacity, and improving municipal resource mobilisation.
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- According to a statement released by ADB, Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance, who signed for the Government of India, and Takeo Konishi, Country Director of ADB’s India Resident Mission, who signed for ADB, were the signatories to the project readiness financing (PRF) for the proposed Nagaland Urban Infrastructure Development Project.
- By establishing an urban sector plan, conducting feasibility studies, and comprehensive engineering designs of chosen subprojects, the ADB financing will ensure high project readiness.
- The PRF loan will be used to help construct climate resilient water supply, sanitation, solid waste management, and urban highways in Nagaland’s 16 district headquarter towns, as well as better access for the poor and vulnerable.