The Indian government has signed a loan agreement worth US$126.42 million with the Asian Development Bank (ADB) to promote rural development in Uttarakhand via sustainable, climate-resilient tourism.
Per a report from the Asia News Network, the agreement was signed between Indian joint secretary of the Department of Economic Affairs and Ministry of Finance Juhi Mukherjee and ADB India Resident Mission OIC Kai Wei Yeo.
Following the signing, Mukherjee said: “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.”
Kai, on the other hand, remarked: “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.”
Helping a most vulnerable region
Per the agreement, funds will be used for improvements to the Tehri Garhwal District, one of Uttarakhand’s most climate-vulnerable and economically disadvantaged regions.
The application of funds for key initiatives is expected to benefit over 87,000 residents and 2.7 million annual visitors through improved tourism planning, upgraded infrastructure, enhanced sanitation and waste management, as well as disaster preparedness.
Among the key interventions highlighted in the agreement are 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.
Other notable features include a livelihood matching grant programme to support tourism led by women, youth, and micro, small and medium-sized enterprises; universal access design including for persons with disability; as well as a women-led disaster risk management initiative in pilot villages.
