Himachal to Get $200 Million Loan From World Bank

The World Bank will give Himachal Pradesh a $200 million (approx. Rs 1,000 crore) loan to enable it become the country's first carbon neutral state by 2020, Chief Minister Prem Kumar Dhumal said.

He said a meeting of the state and central governments and World Bank officials is likely to be held soon to finalize the modalities for the loan.

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.

The state last year signed a pact with the World Bank for generating carbon credits of Rs 20 crores for 20 years from "bio carbon projects" in 10 districts.

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