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ADB-Loan for Sustainable Tourism in Uttarakhand
What’s the News?
- The Government of India and the Asian Development Bank (ADB) have agreed to a USD 126.42 million loan to boost sustainable tourism in Uttarakhand, focused on the Tehri Garhwal region.
- The initiative is aimed at helping ~87,000 local residents and 2.7 million annual visitors through improvements in infrastructure, sanitation, waste management, and disaster preparedness.
Sustainable Tourism & Climate Resilience
- The project is designed to make Uttarakhand an "all-weather tourism destination".
- Key objectives of the loan include:
- Infrastructure Upgrades: Improving roads, sanitation systems, and other tourist facilities.
- Climate Resilience: Implementing nature-based solutions to mitigate the risks of landslides and floods.
- Inclusive Development: Providing livelihood matching grants to support tourism-related businesses led by women and micro, small, and medium-sized enterprises (MSMEs).
- Disaster Preparedness: Establishing a women-led disaster risk management initiative in pilot villages to enhance community resilience.
- The project is expected to benefit over 87,000 residents and 2.7 million annual visitors, while creating a model for sustainable tourism centered around a hydropower lake.
Additional Info
- Asian Development Bank (ADB):
- A regional development bank established in 1966, with its headquarters in Manila, Philippines.
- Its primary mission is to promote economic and social development in the Asia-Pacific region.
- ADB provides financial assistance, technical expertise, and policy advice to its member countries.
- India is a founding member and the fourth-largest shareholder of the ADB.
- The ADB's operations in India are aligned with the country's development priorities, focusing on infrastructure, climate resilience, and private sector development.
- Tehri Lake:
- An artificial reservoir created by the construction of the Tehri Dam on the Bhagirathi River.
- The Tehri Dam is the tallest dam in India and one of the tallest in the world, with a height of 260.5 meters.
- It is a multi-purpose rock and earth-fill embankment dam that serves for hydroelectric power generation, municipal water supply, and irrigation.
- The lake is a significant tourist destination in Uttarakhand, known for water sports and scenic views.