Meghalaya Ecotourism Infrastructure Development (NDB-meghalayaecotourismin)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Meghalaya
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 18, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
The Republic of India
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 79.05 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ NDB website

Updated in EWS May 7, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to NDB documents, the objective of the project is to support infrastructure development in the tourism sector in Meghalaya.The Project will cover urban, semi-urban and rural areas of Meghalaya. The major components of the Project will be to i) develop key tourist attraction points (ecotourism hubs), (ii) ensure their accessibility and connectivity by construction/upgrade of roads, bridges, ropeways, etc, and iii) create basic tourist accommodation.

Meghalaya is a hilly state endowed with significant eco-tourism potential, including virgin forests, ample riverine systems, scenic topography, and many natural hotspots: root bridges, underground tunnels, waterfalls, biodiversity, and others. It is also known for the distinct social and cultural heritage of the tribal people and their traditional governance systems. Meghalaya has one of the lowest gross domestic product (GDP) per capita amongst India states. To sustain the economic growth, Meghalaya state government is planning to focus on promoting the tourism sector.

Tourism sector is a multi-sectoral activity and has the potential to stimulate different sectors of the economy, unlocking opportunities for economic development, poverty alleviation, and income generation. The sector is also labor-intensive, thereby presenting a wide spectrum of job opportunities for the skilled/unskilled workforce and benefiting micro, small and medium enterprises.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Implementing Agency: Meghalayan Age Limited

ACCESS TO INFORMATION

You can submit an information request for project information through a form at the bottom of the following webpage https://www.ndb.int/about-us/contact-us Alternatively, you can send an e-mail to info@ndb.int

ACCOUNTABILITY MECHANISM OF NEW DEVELOPMENT BANK

The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at: https://www.ndb.int/about-us/whistleblowing

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