Power India found that MoEF has cleared the Himachal Pradesh Government’s proposal for environmentally sound and carbon-smart growth in key economic sectors including tourism and hydro-power which facilitated the state government to move a step closer for getting Rs. 1,000 Crs Development Policy Loan (DPL) from World Bank.
Ministry of Environment and Forests (MoEF) had initially raised objection regarding issues related to low carbon development initiatives, which was aimed at reducing Greenhouse Gases (GHG) emissions, it finally gave a green signal to the Ministry of Economic Affairs to begin tripartite negotiations with World Bank and Himachal Pradesh.
The loan is a first of its kind foreign assistance for environmentally sound and carbon-smart growth in key economic sectors including tourism and hydro-power.
Mr. Sudripto Roy, the Additional Chief Secretary (Forest & Environment) ha said:
“This is a positive development for Himachal Pradesh. We have provided a revised proposal to the MoEF. The negotiations on availing at least the first instalment of the loan can begin next month”
The World Bank team, which had visited the state in January 2012, and held discussions with secretary-level officers of all the departments, had agreed in principal to sanction the loan.
Some of the sectors taken up under the major policy matrix for green initiatives include hydro-power development, direct cash benefits to project affected families in hydro sector, low carbon rural development, tourism growth, agriculture and horticulture development, environment protection and adaptation to climate changes.
After having already taken a lead in the environment protection measures, Himachal Pradesh has set a target to become the country’s first carbon neutral state by 2020. 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 WB to generate carbon credits of Rs 20 crore for 20 years from Mid-Himlayan ‘bio carbon projects’ in 10 districts.
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