Current Affairs - State - Discussion

World Bank Board of Directors approved a loan worth USD 40 million for a tourism project in Uttar Pradesh (UP). The loan will be granted by International Bank for Reconstruction and Development, IBRD (member institution of World Bank Group). The loan will have a maturity term of 19 years. This project of UP tourism will be executed in a way that optimizes state's existing assets in a sustainable and inclusive manner which will benefit poor residents and local entrepreneurs.