Finance
The Asian Development Bank (ADB) and the Government of India yesterday signed a $126.42 million loan agreement to promote rural development through sustainable and climate-resilient tourism in the Tehri Lake region of Uttarakhand.
The signatories to the Sustainable, Inclusive, and Climate-Resilient Tourism Development at Tehri Lake Area Project (https://www.adb.org/projects/57213-001/main) were Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance for the Government of India, and Mr. Kai Wei Yeo, Officer-in-Charge, India Resident Mission, for ADB.
“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 Ms. Mukherjee after signing the loan agreement.
“The project showcases a model for sustainable tourism anchored around a hydropower lake by adopting a multisector approach to generate jobs, diversify income, and build climate resilience,” said Mr. Yeo.
The project targets the Tehri Garhwal District, one of Uttarakhand’s most climate-vulnerable and economically disadvantaged regions. It 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.
Key interventions 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.
Notable features include a livelihood matching grant program to support tourism led by women, youth, and micro, small and medium-sized enterprises, universal access design including for persons with disability, and a women-led disaster risk management initiative in pilot villages.
Source: PIB
