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In-principle approval of Rs. 2095 crore ADB Project for the State

Chief Minister Jai Ram Thakur said here today that the State Government has succeeded in getting in-principle approval of Rs. 2095 crore in ADB infrastructure Development Project for the State. He said that out of this 90 percent would be loan amount which would be supported by Government of India whereas 10 percent would be State share, as the State of Himachal Pradesh is a Special Category State.

Chief Minister said that the project aimed at giving a fresh impetus to tourism in the State through creation of new destinations, improving existing destinations besides ensuring maintenance and preservation of heritage. He said that the project also envisages development of eco tourism by ensuring development of lesser known places to lower burden on already crowded tourist destinations.

Jai Ram Thakur said that he had personally taken up the matter with the Union Finance Minister and presentations were also made before the Ministry of Tourism, NITI Aayog and Ministry of Finance. He said that the Screening Committee, Department of Economic Affairs of Ministry of Finance has given its in-principle approval for funding from the ADB.

Chief Minister said that the project would be implemented in two tranches. He said that the first tranche would be worth more than Rs. 900 crore while the second tranche would be more than Rs.1100 crore. He said that work on formulation of DPR would be taken in hand at the earliest and the project would kick start from March next year.

Jai Ram Thakur said that implementation of this project would give new boost to tourism activities in the State by creating world class infrastructure to woo tourists to visit the State from every nook and corner of the world.