World Bank approves loan for a tourism project in North India’s state Uttar Pradesh

Published on : Friday, December 22, 2017

Uttar PradeshUttar Pradesh The North Indian state, Uttar Pradesh is taking a loan worth USD 40 million for a tourism project from World Bank.



The World Bank Board of Executive Directors approves the loan which has a  grace period of 5 years and a maturity term of 19 years.



The Uttar Pradesh Pro-Poor Tourism Development Project will bear the state government’s priority of re-structuring tourism in a way that optimizes the state assets in an inclusive and sustainable manner directly benefiting poor residents and local entrepreneurs, such as rickshaw drivers, local artisans and street vendors.



This tourism project will help improve their linkages with the tourism value chain, while improving living conditions for some of the state’s poorest residents through better infrastructure and services.



According to World Bank, Uttar Pradesh attracted about 211 million domestic and over six million international visitors.



Despite this, Uttar Pradesh remains India’s third poorest state, with a 37.7 percent poverty rate, the World Bank said in an official release pointing that the project will increase tourism-related benefits for local communities.



Tourism is experiencing a period of strong growth driven by India’s burgeoning middle class. Uttar Pradesh has the rich historical, religious and cultural resources. It has unrivalled tourism potential. However, the economic benefits of tourism trickle down unevenly to local communities.



Ahmad further said that the tourism project will enable culturally rich local communities to share their knowledge, traditions and heritage with visiting tourists for generating income.



The tourism project will focus on Agra and the Braj region, which despite being two of the prime tourist and pilgrimage destinations of India and Uttar Pradesh, have some of the state’s highest poverty rates.




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