News

ADB Approves USD 162 Million Loan for Sustainable Tourism Development in Himachal Pradesh.

Banking & Finance | Dated: 09 Oct 2024

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).

🎯 Key Highlights:

- 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.

💡 Other Important Facts:

(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.

📚 Test Your Knowledge:

How much loan has the Asian Development Bank (ADB) approved for tourism development in Himachal Pradesh?

Correct Answer: USD 162 million

🚀 Quick Recap:

About ADB,

President: Masatsugu Asakawa (from 17 January 2020)
Headquarters: Mandaluyong, Philippines