Government of India and Asian Development Bank Sign $120 Million Loan Agreement – Modernization of Irrigation and Improvement of Water Management in Odisha will get the Fund

0
1272
ADB Odhisa - Irrigation Loan
The Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, Shri Raj Kumar and the Country Director, ADB’s India Resident Mission, Ms. Teresa Kho signed the loan agreement to improve the irrigation and water management infrastructure in Odisha, at New Delhi on June 07, 2016. The Principal Secretary, Water Resource Department of Odisha, Shri P.K. Jena is also seen.

Government of India and Asian Development Bank Sign $120 Million Loan Agreement to Modernize Irrigation and Improve Water Management in Odisha.

Government of India and the Asian Development Bank (ADB) signed a $120 million loan agreement here today to improve irrigation and water management infrastructure in Odisha.

The loan is the second tranche of a $157.5 million financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program. The financing will be used for modernizing seven irrigation subprojects resulting in improved irrigation in over 100,000 hectares, and strengthening of Water User Associations (WUAs) and the institutional capacity of Odisha’s Department of Water Resources. The selected areas for the investment program are the Baitarani, Brahmani, Budhabalanga, and Subernarekha river basins and part of the Mahanadi delta.