The Central Government, Asian Development Bank, and State Governments of Tamil Nadu and Uttarakhand on Monday signed a $43.84 million loan agreement for the second tranche of Infrastructure Development Investment Programme for Tourism. 

“This agreement aims to enhance tourism environment in Tamil Nadu and Uttarakhand with a view to drawing increased volume of national and international tourists,” the Government said in a statement. 

The loan was part of the $250 million multi-tranche financial aid signed in 2010 to facilitate and develop tourism related infrastructure in Himachal Pradesh, Punjab, Uttarakhand and Tamil Nadu. 

“The first tranche for $43.42 million involving States of Punjab and Himachal Pradesh is under implementation,” it said.

The loan agreement was signed by Mr Venu Rajamony, Joint Secretary, Department of Economic Affairs, Mr Narhari Rao, ADB, Deputy Country Director of India, Mr VK Jeyakodi, Principal Secretary, Tourism and Culture Department, Tamil Nadu and Mr S.S. Sandhu, Secretary, Tourism Department, Uttarakhand.