Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEconomy

ADB to give $ 31mn loan to boost tourism in Tamil Nadu

Approved in September 2010, the USD 250 million IDIPT aims to boost local economy by enhancing tourism in Punjab, Himachal Pradesh, Uttarakhand and Tamil Nadu.

December 11, 2018 / 02:43 PM IST

The Asian Development Bank (ADB) will provide USD 31 million loan to develop tourism and boost jobs in Tamil Nadu, a finance ministry statement said on December 11. This loan is a part of Infrastructure Development Investment Program for Tourism (IDIPT).

"The project (IDIPT) will support the conservation and restoration of 8 heritage monuments, 1 museum, 3 temples, and a pond (in Tamil Nadu).

"It will build various facilities at the sites, including information centres, rest centres, and toilet blocks, with facilities served by solar-powered lighting and energy efficient lighting," the statement said.

The total cost of the project is USD 44.04 million, of which the government will provide USD 13.04 million. It is expected to be completed in June 2020.

Approved in September 2010, the USD 250 million IDIPT aims to boost local economy by enhancing tourism in Punjab, Himachal Pradesh, Uttarakhand and 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, it said.

PTI
first published: Dec 11, 2018 02:15 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347