World Bank to provide $ 100 million loan assistance to Himachal Pradesh

NEW DELHI: India and World Bank today signed a $ 100 million agreement to provide loans to Himachal Pradesh for promoting inclusive green growth and sustainable development.

Credit Agreement for World Bank DPL Loan of $ 100 million for promoting inclusive growth and sustainable development has been signed between the Government of India, the World Bank and the Government of Himachal Pradesh, a finance ministry statement said.

The loan will be financed by the Clean Technology Fund and will help Himachal Pradesh bring in better policies and practices to guide the development of sustainable hydropower, adapt and mitigate the effects of climate change and empower local communities to conserve their watersheds better.

It would also help promote cleaner methods of industrial production and tourism.