DEHRADUN: Uttarakhand's picturesque Tehri Lake region is poised for a major transformation into an an international tourism hub, with the Asian Development Bank (ADB) committing a substantial loan of $126.42 million (approximately Rs 1,050 crore) for its sustainable tourism development project. A landmark agreement regarding this was formally inked in New Delhi on Thursday between the central government and the ADB to bolster eco-friendly and climate-resilient tourism in the Himalayan state.
The Uttarakhand government has long envisioned developing the expansive Tehri Lake area into a world-class destination, leveraging its natural beauty and potential for adventure sports. This significant financial backing from the ADB, formalised through an agreement between the Department of Economic Affairs under the Ministry of Finance and the multilateral lending agency, is crucial to bringing that vision to fruition.
The comprehensive tourism development initiative will introduce a range of new activities and significantly upgrade existing infrastructure in Tehri, identified as one of Uttarakhand's most climate-vulnerable and economically disadvantaged regions. The project aims to provide enhanced facilities, superior connectivity, improved sanitation, and robust solid waste management systems for both domestic and international visitors.
Officials anticipate the project will directly benefit over 87,000 residents through various employment and entrepreneurial opportunities, while also catering to an estimated 2.7 million tourists annually. The focus will be on creating a vibrant yet responsible tourism ecosystem.
The Rs 1,050 crore loan agreement, specifically designed to promote rural development through sustainable and climate-sensitive tourism around Tehri Lake, was signed by Ms. Juhi Mukherjee, Joint Secretary in the Department of Economic Affairs, Ministry of Finance, and Kai Wei Yeo, Officer-in-Charge for ADB in India.
Underscoring the project's potential, Joint Secretary Juhi Mukherjee remarked, "This loan agreement with the ADB will be instrumental in transforming Uttarakhand's Tehri Lake region into a diverse, all-weather tourism destination, offering unique experiences year-round." She added that the focus is on creating a balanced development model.
Echoing her sentiments, ADB's Kai Wei Yeo emphasized the broader impact. "The Tehri Lake tourism development project will not only champion sustainable tourism practices but also significantly contribute to local economic growth by creating numerous employment opportunities for the communities," he stated, highlighting the bank's commitment to inclusive development.