India signs Loan Agreement with ADB for upgrading Tourism Infrastructure and Services
Union Government has inked a loan agreement with Asian Development Bank (ADB) for US 123.51 million dollars for Infrastructure Development Investment Program.
The 3 tranche loan will be used for upgrading tourism infrastructure and services in three states Punjab, Uttarakhand and Himachal Pradesh.
The loan will be used
- For conservation and development of places of tourist attractions.
- To improve basic tourism facilities and build the capacity of tourism sector agencies and local communities in above three States.
- Support conservation of important heritage structures, including some century-old structures.
- Develop eco-parks and eco-tourism in order to help the states to attract more tourists and it will include new facilities including centres for arts and crafts.
- Upgrade tourism infrastructure like provisioning of drinking water, street lighting, drainage, solid waste management and improvements to approach roads.
- Involve local communities in the management of cultural and natural heritage sites which in turn will create employment for poor and vulnerable households.
Categories: Business & Economy Current Affairs 2017