India, ADB Ink $126 Million Loan Deal To Promote Tourism In Uttarakhand
The project aims to benefit over 87,000 residents and 2.7 million annual visitors through improved tourism planning, upgraded infrastructure, enhanced sanitation and waste management, and disaster preparedness.
India and the Asian Development Bank have signed a $126.42-million loan agreement to promote rural development through sustainable tourism in the Tehri Lake region of Uttarakhand.
The project aims to benefit over 87,000 residents and 2.7 million annual visitors through improved tourism planning, upgraded infrastructure, enhanced sanitation and waste management, and disaster preparedness.
The project targets the Tehri Garhwal District, one of Uttarakhand's most climate-vulnerable and economically disadvantaged regions.
'The ADB loan supports the Government of Uttarakhand's policy to position the state as a diversified, all-weather tourism destination, with Tehri Lake identified as a priority area for development,' said Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance.
'The project showcases a model for sustainable tourism anchored around a hydropower lake by adopting a multi-sector approach to generate jobs, diversify income, and build climate resilience,' said Kai Wei Yeo, Officer-in-Charge, India Resident Mission, for ADB.
Through the project, key interventions would include institutional strengthening, climate-resilient infrastructure, nature-based solutions to mitigate landslide and flood risks, and inclusive tourism services led by women, youth, and the private sector.
