ADB permits $85.4mn loan to Tripura's vital industrial infra

Agartala: Asian Development Bank (ADB) has approved a loan of USD 85.4 million for Tripura to enhance vital industrial infrastructure. This funding aims to strengthen the manufacturing sector's competitiveness, create employment opportunities, and enable integration into global and regional value chains.

On Wednesday, officials in Tripura confirmed that the project under Tripura Industrial Development Corporation received approval based on India's successful implementation of ADB's earlier economic and industrial corridor development initiatives.

The state govt received initial project readiness financing from ADB, which established the foundation for developing comprehensive, inclusive and sustainable infrastructure across nine industrial estates within the project scope, as per official sources.

An official said, "ADB's technical assistance was aimed at enhancing the business environment, including the introduction of a new industrial policy to promote industrial development," further adding that ADB has identified insufficient quality infrastructure as a major hindrance to Tripura's industrial growth and private investment attraction.

"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," he confirmed.

The ADB funding will support crucial infrastructure improvements across nine industrial estates in Tripura, including development of weather-resistant roads, storm water drainage systems, culverts and facilities for rainwater collection. The project encompasses installation of energy-efficient power distribution networks, solar power units, street lighting, fire stations, weighbridges, security systems and improved sanitation facilities.