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  • DAILY CURRENT AFFAIRS:ADB to provide $2 million loan to support Urban Development in Nagaland

ADB to provide $2 million loan to support Urban Development in Nagaland

Tags: Economy/Finance

The Government of India and the Asian Development Bank  signed a $2 million Project Readiness Financing (PRF) Loan for designing climate resilient urban infrastructure, strengthening institutional capacity and improving municipal resource mobilization in 16 district headquarter towns (DHTs) in Nagaland. 

The PRF loan will help design water supply, sanitation, solid waste management and urban roads in 16 DTHs with climate resilient features and improved access to the poor and vulnerable.

Asian Development Bank

  • It was set up in 1966.

  • Its headquarters is at Mandaluyong City, Manila, Philippines 

  • Total member countries : 68 

  • President of ADB : Masatsugu Asakawa of Japan

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