ADB to give USD 31 mn loan to boost tourism in TN

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 Tuesday.

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.