ADB Approves USD 162 Million Loan for Sustainable Tourism Development in Himachal Pradesh.
Banking & Finance
On October 3, 2024, the Asian Development Bank (ADB) approved a loan of USD 162 million to support sustainable and inclusive tourism development projects in Himachal Pradesh (HP).
- This project aims to enhance district-level tourism management and develop destination plans and tourist sites throughout HP.
- The project will promote heritage and cultural centers, restore historical castles, beautify public spaces, and construct convention centers and facilities in the districts of Mandi, Hamirpur, Kullu, and Kangra.
Main Points:- (i) By enhancing and maintaining heritage and cultural sites, building new infrastructure, and strengthening the tourism industry, this initiative aims to boost the state's tourism potential.
President: Masatsugu Asakawa (from 17 January 2020)
Headquarters: Mandaluyong, Philippines
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