Friday, Mar 29 2024 | Time 19:39 Hrs(IST)
image
Business Economy


Govt, ADB sign $31 mln loan pact to boost tourism, jobs in Tamil Nadu

New Delhi, Dec 11 (UNI) The Centre and the Asian Development Bank (ADB) on Tuesday signed a loan agreement for 31 million dollars to build up Tamil Nadu tourism industry and boost visitor arrivals.



The agreement for the tranche-4 loan for Infrastructure Development Investment Program for Tourism (IDIPT) was signed between Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs and Country Director for ADB in India Kenichi Yokoyama.
After signing the agreement, Mr Khare said that the Project is expected to improve the tourism infrastructure in Tamil Nadu and also help the state in preserving the natural and cultural heritage. The activities under the project would also boost economic opportunities for the local people.

Mr Yokoyama said the increased tourism traffic generated by this project will generate extra jobs in Tamil Nadu, especially through skills training and community-based activities targeting the poor and women.

Approved in September 2010, the 250 million dollars IDIPT aims to build opportunities for local communities and boost local economy by enhancing tourism in three other states – Punjab, Himachal Pradesh and Uttarakhand -- besides Tamil Nadu.
This will be achieved through developing and preserving sites of natural and cultural heritage, and building connectivity, capacity, and infrastructure around state tourist sites.

The Government’s recent three-year action agenda (2017–2018 to 2019–2020) envisages the hospitality, travel, and tourism sector as a major driver of growth and employment. The agenda recognises India’s significant potential to increase number of arrivals; global presence by leveraging its cultural industries; and capacity to create large-scale jobs among the poorest segments of the population. It identifies key areas for action, including infrastructure, marketing, and skill development, all of which are aligned with the MFF Road Map.

The Project will support the conservation and restoration of eight heritage monuments, one museum, three temples, and a pond. It will build various facilities at the sites, including information centers, rest centers, and toilet blocks, with facilities served by solar-powered lighting and energy efficient lighting. The total cost of the Project is 44.04 million dollars, of which the government will provide 13.04 million dollars. The estimated completion date is June 2020.

UNI SW ADG 1527
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image