India Signs Loan Agreement with Asian Development Bank (ADB) for US $ 123.51 Million for Upgrading Tourism Infrastructure and Services in States of Punjab, Uttarakhand and Himachal Pradesh
The Government of India signed a loan with Asian Development Bank (ADB) here today for US $ 123.51 million for tranche 3 of the Infrastructure Development Investment Program for Tourism to continue upgrading tourism infrastructure and services in Punjab, Uttarakhand and Himachal Pradesh. The loan will be used for development and conservation of places of tourist attractions. It will also be used to improve basic tourism facilities, and to build the capacity of sector agencies and local communities in the States of Himachal Pradesh, Uttarakhand and Punjab. The third tranche loan is part of the $250 million multi-tranche financing facility that ADB approved in 2010.
Ms M. Teresa Kho, Country Director for ADB in India signed the loan agreement on behalf of ADB while Mr. Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance signed the loan agreement on behalf of the Government of India. The project agreements were signed by Mr. V C Pharkha, Additional Chief Secretary, Tourism, Government of Himachal Pradesh, Mr. Navjot Randhawa, Project Director IDIPT, Government of Punjab and Mr Asheesh Joshi, Additional Secretary, Tourism, Government of Uttarakhand for the State Governments of Himachal, Punjab and Uttarakhand respectively.
Speaking on the occasion, Ms M. Teresa Kho, Country Director for ADB in India said that the loan will support conservation of important heritage structures, including some century-old structures, new facilities including centers for arts and crafts in the three states. Eco-parks and eco-tourism will also be developed to help the states attract more tourists.
Mr. Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance said that upgraded tourism infrastructure like provisioning of drinking water, drainage, street lighting, solid waste management and improvements to approach roads at selected tourist destinations will enhance tourism environment in the States of Himachal Pradesh, Punjab and Uttarakhand. He further said that the involvement of local communities in the management of natural and cultural heritage sites will create employment for poor and vulnerable households.
To improve income opportunities for the local communities, more than 4,000 community members are set to be trained in tourism-related skills such as guides, crafts, and other recreational activities. At least 30 community-based societies will be made operational in the management of natural and cultural heritage sites.
