The project readiness financing supports the development of long-term solutions to improve urban mobility in Aizawl
The Asian Development Bank and the Government of India inked a $4.5 million project readiness financing (PRF) loan today to support project preparation and design efforts in Aizawl, the capital of Mizoram’s northeastern state. Rajat Kumar Mishra of the Ministry of Finance’s Department of Economic Affairs signed the PRF for the proposed Aizawl Sustainable Urban Transport Project on behalf of the Government of India, while Takeo Konishi of the Asian Development Bank signed for ADB.
Mr. Mishra said after signing the agreement, “The PRF supports the development of long-term solutions to improve urban mobility in Aizawl by identifying high-priority urban transport investments for the ensuing project and enhancing its readiness by supporting due diligence and other preparatory activities.” “The PRF will develop a Comprehensive Mobility Plan (CMP) for Aizawl that outlines the city’s urban transportation development strategy, builds synergies with the state’s urban development planning initiatives, and promotes climate and disaster resilience, as well as gender inclusion in its interventions,” Mr. Konishi said.
Rapid and unplanned urbanisation has severely limited urban mobility in Aizawl, the administrative and service capital of Mizoram. This causes traffic congestion on restricted road widths, which has a negative impact on road safety, people and goods movement efficiency, and environmental sustainability. The PRF’s subsequent initiative aims to address the city’s transportation issues by implementing sustainable urban mobility solutions. The PRF will perform feasibility studies and create full project reports and detailed design for prioritised projects listed in the CMP. It will aid the state’s Urban Development and Poverty Alleviation Department in developing institutional capacity for pre-implementation and project preparation operations.
The Asian Development Bank is dedicated to establishing a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while continuing to fight extreme poverty. It was founded in 1966 and is owned by 68 members, 49 of them are from the region.