A Loan Agreement signed between the Government of India and Asian Development Bank (ADB) for US $ 123.51 million for tranche 3 of the Infrastructure Development Investment Program for Tourism to continue upgrading tourism infrastructure and services in Punjab, Uttarakhand and Himachal Pradesh.
The loan will be used for development and conservation of places of tourist attractions. It will also be used to improve basic tourism facilities, and to build the capacity of sector agencies and local communities in the States of Himachal Pradesh, Uttarakhand and Punjab. The third tranche loan is part of the $250 million multi-tranche financing facility that ADB approved in 2010.