Himachal inks $100 million loan pact with World Bank

Shimla: Himachal Pradesh on Saturday signed a $100 million loan agreement with the government of India and the World Bank to support green initiatives in the state.

The agreement would focus on climate-smart development in energy, watershed management, industry and tourism, an official statement said.

The loan agreement was signed by Chief Secretary Sudripta Roy, joint secretary with the Ministry of Finance Prabodh Saxena and World Bank (India) Governance Adviser Roland Lomme in New Delhi.

The state has initiated a programme of community-led conservation of local watersheds.

This is expected to improve the availability of water, help farmers move to higher-income yielding crops, promote the efficient use of water resources and help communities set up agri-businesses in the state.