ADB sign $31mn loan to boost tourism in TN

Share

Tweet

Share

Share

Email

Comments

A project to boost tourism in Tamil Nadu will be funded by the Asian Development Bank (ADB) to the tune of $31 million (about Rs 222.84 crore).

An agreement in this regard was signed here on Tuesday between the government of India and ADB.

After the signing of the loan, Additional Secretary of the Department of Economic Affairs, Sameer Kumar Khare, said that the project is expected to improve tourism infrastructure in Tamil Nadu and help the state in preserving its natural and cultural heritage. The activities under the project would also boost economic opportunities for the local people, he added.

The loan was signed for Infrastructure Development Investment Program for Tourism (IDIPT), which aims to build opportunities for local communities and boost the local economy by enhancing tourism in three other states – Punjab, Himachal Pradesh, and Uttarakhand- besides Tamil Nadu.

“This will be achieved through developing and preserving sites of natural and cultural heritage, and building connectivity, capacity, and infrastructure around State tourist sites. The project will support the conservation and restoration of eight heritage monuments, one museum, three temples, and a pond. It will build various facilities at the sites, including information centers, rest centers, and toilet blocks, with facilities served by solar-powered lighting and energy-efficient lighting,” a statement issued by the Ministry of Finance read.

The total cost of the project is USD 44.04 million, of which the government will provide USD 13.04 million. The estimated completion date is June 2020.