The Government of India and the Asian Development Bank (ADB) today signed in New Delhi a loan agreement for $31 million to build-up the state tourism Industry and boost visitor arrivals.
It is expected to improve the tourism infrastructure in Tamil Nadu and also help the state in preserving the natural and cultural heritage. The activities under the project would also boost economic opportunities for the local people, he added.
The Government of India’s recent Three-Year Action Agenda (2017–2018 to 2019–2020) envisages the hospitality, travel, and tourism sector as a major driver of growth and employment. The Agenda recognizes India’s significant potential to increase: (a) the number of arrivals, (b) global presence by leveraging its cultural industries, and (c) capacity to create large-scale jobs among the poorest segments of the population. It identifies key areas for action, including infrastructure, marketing, and skill development.
The project will support the conservation and restoration of eight heritage monuments, one museum, three temples, and a pond. It will build various facilities at the sites, including information centers, rest centers, and toilet blocks, with facilities served by solar-powered lighting and energy efficient lighting. The total cost of the project is $44.04 million, of which the Government will provide $13.04 million. The estimated completion date is June 2020.
