The Tripura government has signed an agreement with Asian Development Bank (ADB) amounting to Rs 2,275 crore to strengthen and improve power distribution efficiency in the northeastern state, deputy chief minister Jishnu Dev Varma said on Saturday.
Terming the agreement as “historic” for the state, Dev Varma said it is the single biggest project in any plan through an externally aided project.
“The project agreement was signed by Brijesh Pandey, power secretary of Tripura, and Nilaya Mitesh, the officer in charge of ADB’s India Resident Mission, New Delhi, remotely on Friday after extensive deliberation and evolution,” Dev Varma said at a press conference here. The deputy CM said the ADB project will support the state government’s efforts to strengthen its power sector by replacing inefficient power plants and strengthening the distribution system.
Of the Rs 2,275 crore fund, the Centre will repay Rs 1,820 crore while the state is supposed to provide Rs 455 crore, he said, adding the project will be implemented in the next three years.
