Himachal Pradesh gets $100 million loan from World Bank

New Delhi: Himachal Pradesh on Wednesday got a $100 million development policy loan from the World Bank to enable the hill state to manage its natural resources.

The agreement was signed here between the government of India, the state government and the World Bank. The project was approved by the World Bank's board of executive directors May 16, 2014.

The loan will help the state bring in better policies and practices to guide the development of sustainable hydropower, adapt and mitigate the effects of climate change, empower local communities to conserve their watersheds better, promote cleaner methods of industrial production and promote environmentally sustainable tourism, the Bank said in a statement.