World Bank gives $200 million loan to Himachal Pradesh for green development

The World Bank has granted a $200 million (Rs 1,100 crore) loan to Himachal Pradesh to promote green initiatives and sustainable development in the state, an official statement said here on Friday.

"The loan component amounting to $20 million would be at a subsidised rate of 0.74 per cent payable in 30 years," chief secretary Sudripta Roy said in a statement.

He said the loan comprised 90 per cent grant and 10 per cent loan.

According to the 2009 Forest Survey of India, Himachal Pradesh has 37,033 sq km of forest area, of which 3,224 sq km is very dense forest.