ADB project of Rs 2095 crore approved for Himachal Pradesh

Himachal Pradesh Chief Minister Jairam Thakur said on Wednesday that the state had received in-principle approval for a Rs 2,095 crore ADB Infrastructure Development Project to improve tourism infrastructure.

He stated that 90% of the loan amount would be backed by the Indian government, while 10% would be the state contribution due to the state's status as a special category state.

The project, according to the Chief Minister, aims to revitalise tourism by creating new destinations, upgrading current attractions, and assuring heritage protection and maintenance. He also stated that the project aims to promote ecotourism by ensuring the development of less-frequented areas in order to relieve pressure on overcrowded tourist hotspots.

Thakur stated that he had personally raised the issue with the Union Finance Minister and that presentations had also been made to the Ministries of Tourism, NITI Aayog, and Finance. He stated that the screening committee of the Ministry of Finance's Department of Economic Affairs has given its in-principle permission for ADB assistance. The project would be implemented in two phases, according to the Chief Minister. The first payment will be worth over Rs 900 crore, and the second will be worth over Rs 1,100 crore.

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