World Bank sanctions Rs 550-cr loan to Himachal

Shimla: World Bank has sanctioned Rs 550 crore Development Policy Loan to Himachal government out of this fund Rs 495.37 crore (90 per cent) has been released to the state government, Chief Minister Virbharda Singh said on Tuesday.

The loan has been sanctioned to promote Inclusive Green Growth and Sustainable Development in the State and it would be utilised for achieving these objectives in Power, Tourism, Industries and Environment sectors, he added. The Chief Minister said the state government has decided to enhance and operationalise the capacities in environment and energy departments for effective coordination, monitoring and evaluation. The government has also decided to undertake Cumulative Environmental Impact Assessment (CEIA) studies for Satluj, Beas, Yamuna and Chenab river basis in the State and an integrated catchment area treatment plan for Satluj river basin was being implemented and integrated CAT plans for Chenab river basis were being prepared, he said. Virbhadra Singh said that by strengthening Power, Tourism, Industries and Environment sectors, more and more employment and self employment avenues would be created for educated unemployed youths of the State as all these sectors had vast potential for further development and can also contribute significantly in strengthening the economy of the state. PTI