The Government of India and the Asian Development Bank (ADB) on Monday signed a $125 million loan agreement to support the upgradation of urban services in six district headquarters and Guwahati in Assam.

According to an official statement, the loan agreement for the Assam Urban Sector Development Project was signed by Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India, and Mio Oka, Country Director, India Resident Mission, on behalf of ADB.

The statement said that the project will benefit 360,000 residents of Assam by delivering a continuous metered water supply and upgrading stormwater management systems. It also seeks to strengthen urban governance through institutional reforms and capacity building.

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