The Government of India and the Asian Development Bank (ADB) signed in New Delhi a Loan Agreement for $31 million to build-up the State Tourism Industry and boost visitor arrivals in Tamil Nadu.
The signatories to the tranche 4 loan for Infrastructure Development Investment Program for Tourism (IDIPT) were Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance, who signed for the Government of India, and Mr. Kenichi Yokoyama, Country Director for ADB in India, who signed for ADB.
- The Asian Development Bank is a regional development Bank established in 1966.
- Headquarters of ADB is in Manila, Philippines.
- Takehiko Nakao is Present President of the Asian Development Bank.