Himachal set to get WB’s Rs 1,000-cr green loan

Himachal Pradesh is set to get World Bank’s Rs 1,000-crore green development loan,which will help the state to become the country’s first carbon neutral state by 2020.

Written by Express News Service | Chandigarh | Published: March 30, 2012 2:45 am

Himachal Pradesh is set to get World Bank’s (WB) Rs 1,000-crore green development loan,which will help the state to become the country’s first carbon neutral state by 2020.

Making this announcement in the state Assembly on Thursday,Chief Minister Prem Kumar Dhumal said: “The World Bank has agreed in principal to extend a loan to the state for undertaking carbon smart growth. The government has written to Centre for convening a joint meeting with the WB and state government for releasing the funds.”

The loan will enable sustainable management of natural resources and heritage with a focus on forests,wildlife,wetlands,livestock,mining,fisheries,waste disposal and architecture. Last year,the state had signed a pact with the WB for generating carbon credits of Rs 20 crore for 20 years from “bio carbon projects” in 10 districts,Dhumal said.

The Rs 365-crore Himachal Pradesh Mid-Himalayan Watershed Project is the first project in India to be registered for carbon credits.

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