Infrastructure Development at J&K Tourist Sites

• 24 Dec 2024

Why in News? 

Recently, the World Bank has enlisted four places in Jammu and Kashmir to be developed as international tourist destinations.  

• These places are Bhaderwah in Doda, Bradari in Reasi, Kokernag in Anantnag and Dodapathri in Budgam. 

 Key Points 

• World Bank’s Intention in Development: 
  • The World Bank intends to fund infrastructure in specific locations in Jammu and Kashmir to meet international tourism standards. 
• Planned Projects and Funding: 
  • The World Bank plans to fund infrastructure projects, including: 
    • Development of Bhal Padri meadow and Guldanda meadow 
    • Upgradation of Jai Valley 
    • Establishment of Gondola cable car services at Seoz meadows in Bhaderwah 
  • Interest has been shown in developing the Kailash Yatra route to leverage its significant pilgrimage tourism potential. 
• Broader Revamp in J&K: 
  • Other locations to benefit from the initiative include: 
    • Dodapathri in Budgam district 
    • Kokernag in Anantnag district 
    • Bradari in Reasi district 
• Collaboration and Approval: 
  • The project will be executed in collaboration with the central government. 
  • Final approval for funding rests with the World Bank, which will assess the potential of these locations before proceeding. 
• Significance of the Initiative: 
  • The initiative aims to boost pilgrimage tourism, handicrafts, herbal tourism, and adventure tourism in the region. 

 World Bank 

• About: 
  • It was created in 1944, as the International Bank for Reconstruction and Development (IBRD) along with the International Monetary Fund (IMF). The IBRD later became the World Bank. 
  • The World Bank Group is a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. 
  • The World Bank is one of the United Nations' specialized agencies. 
• Members: 
  • It has 189 member countries. 
  • India is also a member country. 
• Major Reports: 
  • Ease of Doing Business (Stopped publishing). 
  • Human Capital Index. 
  • World Development Report. 
• Its Five Development Institutions: 
  • International Bank for Reconstruction and Development (IBRD) 
  • International Development Association (IDA) 
  • International Finance Corporation (IFC) 
  • Multilateral Guarantee Agency (MIGA) 
  • International Centre for the Settlement of Investment Disputes (ICSID) 
    • India is not a member of ICSID.