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In a bid to improve the tourism infrastructure in Tamil Nadu, the Asian Development Bank signed a loan agreement for $31 million with the Central Government here on Tuesday. The aim is to build the tourism industry in the state and also boost visitor arrivals.
The signatories to the tranche 4 loan for the Infrastructure Development Investment Program for Tourism (IDIPT) were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance, who signed for the Centre, and Kenichi Yokoyama, Country Director for ADB in India, who signed for ADB.
“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,” said Khare.
Approved in September 2010, the $250-million IDIPT aims to build opportunities for local communities and boost the local economy by enhancing tourism in three other states – Punjab, Himachal Pradesh and Uttarakhand -- besides Tamil Nadu. It is to be achieved by developing and preserving sites of natural and cultural heritage, and building connectivity, capacity, and infrastructure around state tourist sites.
“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,” said Yokoyama.
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