India Signs Loan Agreement with the World Bank for $ 40 Million

An agreement for IBRD Credit of USD 40 Million from World Bank for “U.P. Pro-Poor Tourism Development Project” was signed yesterday by Sameer Kumar Khare, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and John Blomquist, Acting Country Director of the World Bank (India). The Implementing Entity Agreement was signed by Director General and Principal Secretary, Tourism on behalf of Government of Uttar Pradesh, and the Acting Country Director (India) on behalf of the World Bank.

The programme size is approximately USD 57.14 million, of which USD 40 million will be financed by the Bank, and the remaining amount will be funded out of State Budget. The programme duration is 5 years.

The Project Objective is to increase tourism-related benefits for local communities in targeted destinations. The project is expected to have far-reaching social, economic and environmental benefits by targeting local communities and entrepreneurs near some of the main tourist and pilgrimage attractions in Uttar Pradesh, namely, Agra as well as Mathura, Vrindavan, Barsana and Govardhan in the Braj region.