Himachal Government today signed loan agreement with Asian Development Bank for strengthening tourism infrastructure in the state under Infrastructure Development Investment Program for Tourism.

The agreement was signed by Smt. Manisha Nanda, Principal Secretary Tourism and Mr. Prodyut Dutt, Officer Incharge, India Resident Mission Asian Development Bank on behalf of respective parties. The senior officers of the Ministry of Finance, Asian Development Bank and Dr. Arun Sharma, Mission Director of the Project and other officers of Tourism Department were present on this occasion.

Smt. Manisha Nanda said that under the agreement Asian Bank Development will provide $ 95.16 million to the State for developing tourism infrastructure and the project will be 90:10 grant: loan as per the policy of the Union Government to Himachal Pradesh. The period of the Investment Program will be up to 30th June 2020 while the closing date for Project 1 is 30th June 2017.

Smt. Manisha Nanda Principal Secy. Tourism Himachal Pradesh said that The Investment Program will target enhanced economic growth and provision of livelihood opportunities for local communities through tourism infrastructure development with a focus on preservation and development natural and cultural heritage and incidental services. The Investment Program will consists five components viz. (i) Urban Infrastructure and Service Improvement; (ii) Connectivity Improvement; (iii) Quality Enhancement of Natural and Cultural Attractions; (iv) Community-based Activities; and (v) Capacity Development, Community Participation and Project Management.