Mizoram : ADB grants $4.5 Million Loan under ‘Project Readiness Financing’ To Improve Urban Mobility In Aizawl

 

  • NET Web Desk

On Tuesday, October 26, the Government of India (GoI) and the Asian Development Bank (ADB) have reached an understanding whereby the bank agreed in principle to grant $4.5 million loan under ‘Project Readiness Financing (PRF)’ scheme to support preparation and designing of urban mobility in Aizawl.

The Additional Secretary, Department of Economic Affairs in Ministry of Finance, Rajat Kumar Mishra signed on behalf of the Centre. While, the Country Director of ADB’s India Resident Mission Mr Takeo Konishi signed on behalf of ADB.

Mishra asserted that PRF will immensely support towards improving the urban mobility in Aizawl by identifying high-priority urban transport investments for the ensuing project, and enhance its readiness by supporting due diligence and other preparatory activities.

On the other hand, Mr Konishi said, “The PRF will develop a Comprehensive Mobility Plan (CMP) for Aizawl that outlines the urban transport development strategy and build synergies with urban development planning initiatives in the state, and promote climate and disaster resilience, and gender inclusiveness in its interventions.”

According to PIB report, the urban mobility in Aizawl, the center of Mizoram’s administrative and service industry is severely constrained due to rapid and unplanned urbanization.

This unplanned urbanization have further resulted into severe repercussions adding to traffic congestion in the narrowly built roads.

It has adversely impacted road safety, thereby bringing inefficiency in movement of people and goods, and affecting environmental sustainability.

Developed through the PRF, the proposed Aizawl Sustainable Urban Transport Project seeks to resolve the city’s transport problems by adopting sustainable urban mobility solutions.

The PRF will conduct feasibility studies for prioritized projects identified in the CMP, and prepare detailed project reports, keeping in view of detailed designs.

It will also develop institutional capacity of Mizoram’s Urban Development and Poverty Alleviation Department, and stress in pre-implementation and project preparation activities.

It’s worth mentioning that ADB is committed to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, thereby aiming to eradicate extreme poverty.