The Government of Himachal Pradesh (HP), a mountain state in India, has been granted a US$ 100 million development policy loan from the World Bank to move towards an environmentally sustainable model of economic growth.
The loan to “Promote Inclusive Green Growth and Sustainable Development” will support the local government in their efforts to reduce greenhouse gas emissions and adapt to the effects of climate change. The focus of the support program will be on the state’s key economic areas – energy, watershed management, industry and tourism.
Since Himachal Pradesh is one of the country’s main sources of clean hydropower energy, the program will specifically support the protection of watersheds in the mountainous region and the development of sustainable hydropower.
A second development policy loan is expected to follow, with funding from the Clean Technology Fund (CTF).
Link: World Bank Press Release