The World Bank on Thursday committed USD 40 million (about Rs 260 crore) for the development of tourism facilities in Uttar Pradesh.
An agreement for IBRD credit of USD 40 million from the World Bank for the UP Pro-Poor Tourism Development Project was signed on Thursday, a finance ministry statement said.
The five-year programme is worth approximately USD 57.14 million, of which USD 40 million will be financed by the bank, and the remaining amount will be funded out of state budget, it said.
The programme is aimed at increase tourism-related benefits for local communities in targeted destinations, it said.
It is expected to have far-reaching social, economic and environmental benefits by targeting local communities and entrepreneurs near some of the main tourist and pilgrimage attractions in Uttar Pradesh, namely, Agra as well as Mathura, Vrindavan, Barsana and Govardhan in the Braj region.