Himachal Pradesh to get $100 million from World Bank for 'green' growth

NEW DELHI: Himachal Pradesh today became the first Indian state to get $100 million World Bank project for promoting green growth and sustainable development in the state as the Centre, the World Bank and the state signed a deal to this effect here today.

World Bank's Clean Technology Fund (CTF) will finance the project which aims to support the state in its initiatives of a "paradigm shift" towards an environmentally sustainable model of economic growth by promoting improved management of its natural resources, a state government statement said.

The deal was signed by World Bank Country Director in India Onno Ruhl, Department of Economic Affairs' Joint Secretary Usha Titus and Himachal Principal Secretary (Finance) Shrikant Baldi.

Ruhl praised the Himachal government for implementing various World Bank projects effectively in the state, the statement said.

Environmental specialist and World Bank's task team leader for the programme Piyush Dogra said the project would go a long way in helping the state to demonstrate a more sustainable path to economic development and its success would set an example not only for other Himalayan states but also for other countries in the south Asian region.