Himachal Pradesh Chief Minister Virbhadra Singh on Tuesday said Asian Development Bank had sanctioned a loan of Rs382 crore for upgradation and improvement of Tourism Infrastructure in the State.

The tripartite loan signing ceremony was held in the presence of VC Pharka, Additional Chief Secretary, Tourism HP, in the Deptt of Economic Affairs, Ministry of Finance, Government of India in New Delhi. On behalf of ADB, the loan agreement was signed by M Teresa Kho, the Country Director, ADB and on behalf of Govt of India  by Rajkumar, Joint Secretary, Ministry of Finance. Commissioner Tourism Mohan Chauhan and Project Director Manoj Sharma were also present on this occasion.

Officials said the money is expected to give impetus to the Tourism infrastructure in Himachal. The State Tourism Department has completed all pre-loan  signing formalities like awarding 30% total cost of projects in advance, placement of ADB consultants in place to  execute the projects.  Tranche III would be completed by 2020 and 15 sub-projects have been proposed under this trenche.  At present 1.63 crores tourists were visiting the State annually. The implementation of this project would enhance the tourist flow to the State benefitting local tourism industry.

The main projects prepared under this tranche are rehabilitation and beautification of about 10.5 kms portion of Mall Road, Cultural Center, Manali, Rehabilitation of parks in Mandi town,  Jwalaji, Dharamsala, Chamba, besides others.