India signed a 123.51 million US dollar loan agreement with Asian Development Bank (ADB) to upgrade tourism infrastructure and services in Punjab, Uttarakhand and Himachal Pradesh.
The agreement was signed by M Teresa Kho, Country Director for ADB in India and Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Union Ministry of Finance.
This is the third tranche loan agreement and it is a part of the 250 million US dollar multi-tranche financing facility named Infrastructure Development Investment Program for Tourism that was approved by ADB in 2010.