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Centre grants in-principle approval for Rs 2095 crore ADB tourism project for HP

Informing about this, Chief Minister Jai Ram Thakur said the state government has succeeded in getting in-principle approval of Rs 2095 crore in ADB infrastructure development project for the state.

SNS | Shimla |

The Central government on Wednesday granted in-principle approval for Rs 2095 crore ADB tourism infrastructure development project for Himachal Pradesh.

Informing about this, Chief Minister Jai Ram Thakur said the state government has succeeded in getting in-principle approval of Rs 2095 crore in the ADB infrastructure development project for the state.

He stated that out of the total loan amount, 90 percent would be supported by the Central government whereas 10 percent would be state share as Himachal Pradesh is a Special Category State.

“The project aimed at giving a fresh impetus to tourism in the state through the creation of new destinations, improving existing destinations besides ensuring maintenance and preservation of heritage.

The project also envisages the development of ecotourism by ensuring the development of lesser-known places to lower the burden on already crowded tourist destinations,” the CM said.

He further stated that he had personally taken up the matter with the Union Finance Minister and presentations were also made before the Ministry of Tourism, NITI Aayog, and Ministry of Finance.

On the basis of representations, the Screening Committee, Department of Economic Affairs of Ministry of Finance has given its in-principle approval for funding from the ADB.

“The project would be implemented in two tranches. The first tranche would be worth more than Rs 900 crore while the second tranche would be more than Rs 1100 crore.

The work on the formulation of DPR would be taken in hand at the earliest and the project would kick start from March next year,” he stated.

Thakur added that the implementation of this project would give a new boost to tourism activities in the state by creating world-class infrastructure to woo tourists to visit Himachal from every nook and corner of the world.