India, ADB ink $120 million loan agreement for irrigation in Odisha
India has signed loan agreement of US 12 crore dollars with the Asian Development Bank (ADB) to improve irrigation and water management infrastructure in Odisha.
The soft loan is the second tranche of a 157.5 million dollars financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.
- The programme aims to improve existing irrigation infrastructure, maintenance and operation and water use efficiency that will lead to higher agricultural productivity.
- The selected areas for the investment program are the Brahmani, Baitarani, Budhabalanga and Subernarekha river basins and part of Mahanadi Delta.
- The financing under it will be used for modernizing seven irrigation subprojects resulting in improved irrigation in over one lakh hectares.
- It will be also used for strengthening the institutional capacity of Odisha’s Department of Water Resources.
Categories: Business, Economy & Banking