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UTTARAKHAND

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ASIAN DEVELOPMENT BANK APPROVES FUNDING DEVELOPMENTAL PROJECTS IN TEHRI


 * 14 Mar 2024
 * 3 min read


WHY IN NEWS?

Recently, Asian Development Bank (ADB) has approved a funding of Rs 1,294 crore
for various development projects in Tehri district.


KEY POINTS

 * The projects will be funded in a ratio of 80:20 with ADB bearing 80% of the
   expenditure and the Uttarakhand government bearing 20% of the expenses.
 * In order to promote a sustainable, inclusive and climate resilient tourism
   development of designated areas in Tehri, the state government decided to
   develop the Tehri dam reservoir and surrounding areas as a special tourist
   area.
   * After which the Tehri Special Area Development Authority (TADA) was
     established under the Tehri Special Area Development Act, 2013.
   * This was followed by a series of consultations with the Department of
     Economic Affairs, Government of India and proposals to ADB, which has now
     fructified with a project management unit to oversee the implementation of
     the entire project.
 * Seven projects have been identified to be accomplished on priority basis
   which include
   * A 15.7 kilometre tourism road from Koti Colony to Dobra Chanthi bridge
     which will have dedicated cycling track, view points and dedicated hawker
     area,
   * A 450 metre glass bottom pedestrian suspension bridge from Koti Colony to
     Tiwar village,
   * A cultural haat and Uttarakhand architecture theme park at Dobra-Chanthi,
   * Upgradation of village infrastructure at Tiwar village and new ropeway
     project at Tipri-Madan Negi.
 * The project is aimed at development of tourism infrastructure with focus also
   on enhancement of green cover, livelihood generation, solid and liquid waste
   management and minimal disruption to the natural and socio-cultural
   environment.
 * A total of 56 positions have been sanctioned for the project including
   engineers, architects, environment experts, gender experts and community
   experts who will ensure that the developmental activities are in line with
   internationally accepted environmental and socio-cultural standards.
 * The overall project will also include smart infrastructure improvement with
   interventions like weather monitoring system, environmental data collection
   and establishment of an integrated command control centre.


ASIAN DEVELOPMENT BANK (ADB)

 * ADB, established in 1966 is owned by 68 members-49 from the region.
 *  It is committed to achieving a prosperous, inclusive, resilient, and
   sustainable Asia and the Pacific while sustaining its efforts to eradicate
   extreme poverty.
 * Further, it assists members and partners by providing loans, technical
   assistance, grants, and equity investments to promote social and economic
   development.
 * It aims to promote social and economic development in Asia and the Pacific.
 * As of 31st December, 2019, ADB’s five largest shareholders are Japan and the
   United States (each with 15.6% of total shares), the People’s Republic of
   China (6.4%), India (6.3%), and Australia (5.8%).
 * It is headquartered in Manila, Philippines.


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