Shimla: Union government has sanctioned a Rs 550 crore World Bank funded development policy loan for the state for promoting inclusive green growth and sustainable development out of which Rs 495 crores stands released, chief minister Virbhadra Singh here today disclosed.
The loan has been released as 90 percent grant and state only incurs a loan liability of 10 percent, he added.
World Bank backed loan would be utilized for meeting green growth objectives in power, tourism, industries and environment sectors, said the chief minister.
To utilize the loan the state government has decided to opertionalize the capacities in environment and energy department for effective coordination, monitoring and evaluvation.
A cumulatiuve environmental impact assessment studies in Satluj, Beas, Yamuna and Chenab river basins would be undertaken.
An integrated catchment area treatment plan in Satluj River basin was being implemented and similar plan Chenab river basin was being prepared.
Power tourism, industries and environment sectors had potential to create self employment avenues for education and unemployed youths that the government would try to tap, added Virbhadra.