The Asian Development Bank has sanctioned an amount of $76.25 million amounting to ₹551 crore for three specific projects under the Agartala Smart City Limited. The bank agreed to fund 23 km of road by retrofitting 15 stretches at ₹444 crore, revive lakes and water bodies of Maharaja Bir Bikram College and its adjoining areas at ₹30.67 crore investment and also renovate and restore Ujjayanta Palace and its surroundings at ₹35.68 crore in the current financial year in a phased manner.
An ADB team headed by Bhavesh Kumar, head of design and supervision and project management consultant, had held a meeting with the Agartala Smart City Limited team, spearheaded by its CEO Sailesh Kumar Yadav and accepted the demand proposal in the loan inception mission. The ADB will release the funds to the Centre for the Agartala infrastructure development and work on these projects will start this month itself. As per estimation, the entire work will be completed in the next year along with other city development programs.