Manoj Bhargava, an NRI billionaire and co-founder of The Hans Foundation, has pledged Rs.500 crore for development programmes in Uttarakhand over the next six years.
The announcement was made at an event Tuesday at the fifth anniversary celebrations of the foundation, a charitable organisation created in 2009 to provide a source of endowment for not-for-profit organisations in India.
A foundation press release said that Bhargava has pledged Rs.500 crore to fund 'Uttarakhand 2020' - a state-wide development programme focusing on disease prevention, children's education and forest regeneration.
The foundation chose Uttarakhand for the development programme as it is the "cradle of Indian civilisation" and "a place most in need of large-scale development initiatives".
The foundation has supported over 151 organisations across 25 states and union territories, with 406 completed and many ongoing projects in the areas of healthcare, education, disability, livelihood, water and sanitation, the release said.