Himachal Pradesh Chief Minister Mr. Virbhadra Singh has said that Asian Development Bank has sanctioned a loan of Rupees 382 crore for upgradation and improvement of Tourism infrastructure in Himachal Pradesh.
Shri V.C Pharka, Additional Chief Secretary, Tourism HP, in the Department of Economic Affairs, Ministry of Finance, Government of India in New Delhi, performed the tripartite loan signing ceremony today.
On behalf of Asian Development Bank the loan agreement was signed by M. Teresa Kho , the Country Director , Asian Development Bank and on behalf of Government of India by Shri Rajkumar, Joint Secretary, Ministry of Finance. Commissioner Tourism Shri Mohan Chauhan and Project Director Shri Manoj Sharma were also present on this occasion.
It would be pertinent to mention here that this would give impetus to tourism infrastructure in the state. The state tourism department has completed all pre loan signing formalities like awarding 30% total cost of projects in advance, placement of Asian Development Bank consultants in place to execute the projects. Tranche III would be completed by 2020 and fifteen subprojects have been proposed under this tranche.
At present 1.63 crores tourists are visiting the state annually. The implementation of this project would enhance the tourist flow to the state thereby benefitting the local tourism industry. The main projects prepared under this tranche are rehabilitation and beautification of about 10.5 kilometers portion of Mall Road, Cultural Center, Manali, rehabilitation of parks in Mandi town, Jwalaji, Dharamsala, and Chamba etc.