Current Affairs

Government inks $31 million loan agreement with ADB

Union Government has inked $31 million loan agreement with Asian Development Bank (ADB) for Tamil Nadu Government's Infrastructure Development Investment Program for Tourism (IDIPT).
Government inks $31 million loan agreement with ADB
  • It is the fourth loan tranche for this program aimed at building-up tourism industry and boosting visitor arrivals in Tamil Nadu.

About Infrastructure Development Investment Program for Tourism (IDIPT):

  • It is a $250 million project approved in September 2010.
  • It 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.
  • It will support 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 estimated completion date is June 2020.
  • The project is expected to improve tourism infrastructure in Tamil Nadu and also help the state in preserving natural and cultural heritage.
  • The activities under the project will also boost economic opportunities for the local people.
  • It will also generate extra jobs in Tamil Nadu, especially through skills training and community-based activities that target poor and women.

Question:

Q. Union Government has inked $31 million loan agreement with which bank for Tamil Nadu Government's Infrastructure Development Investment Program for Tourism (IDIPT)?
a. World Bank
b. Bank of Japan
c. Asian Development Bank
d. None of the above
Government inks $31 million loan agreement with ADB Government inks $31 million loan agreement with ADB Reviewed by Inderjeet Virdi on December 14, 2018 Rating: 5

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