The Union government and the Asian Development Bank (ADB), along with Tamil Nadu and Uttarakhand, signed a $43.84-million loan agreement towards the second tranche for an infrastructure development investment programme for tourism in the two States.
The agreement is aimed at enhancing the tourism environment in both States with a view to drawing an increased volume of national and international tourists.
Approved in 2010 for extending $250 million as a multi-tranche financing facility, the programme was for the development of tourism-related infrastructure in four participating States.
The first tranche of $43.42 million meant for Punjab and Himachal Pradesh is already under being disbursed.
The objective of the second tranche is to support upgrading and constructing tourist facilities through improvement of urban infrastructure and connectivity to the tourist attractions in Uttarakhand and Tamil Nadu.
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