Maharashtra Government to raise $270 m from Green Climate Fund
The 2030 Water Resources Group (2030WRG) has decided to help the Maharashtra Government to raise $270 million from the Green Climate Fund (GCF).
The amount raised will be invested in state government’s integrated watershed programmes such as Jalyukt Shivar Yojana which has successfully augmented the ground water in drought affected areas of the state.
Moreover, the raised fund will be also used to further connect efficient use of water at the village level, where the fund will be useful for technology and infrastructure development. It will also be used in crop diversification and adding market linkages.
Maharashtra Water Resources Multi-Stakeholder Platform (MWRMP)
2030WRG along with the Maharashtra Government have launched the MWRMP to address critical water resources challenges in the State. The platform will be chaired by the Chief Secretary of Maharashtra.
The platform aims to accelerate water use efficiency programme in irrigated areas, along with agriculture growth and income enhancement. It will also develop public-private-community partnership models for implementation of the programmes. It will develop viable financing solutions, including blended finance models for promoting efficient use of water.
The 2030WRG is hosted by the International Finance Corporation (IFC), a member of the World Bank Group. It is a public-private-civil society collaboration for water resources reform in developing economies. Its ultimate aim is to close the gap between water demand and supply by the year 2030. It facilitates open, trust-based dialogue processes to drive action on water resources reform in water stressed countries in developing economies.
Green Climate Fund (GCF)
The GCF is a fund under the UN. It is guided by the principles and provisions of the UN Framework Convention on Climate Change. It aims to help developing countries to finance clean energy projects other mitigation efforts and adaptation to climate change.
Categories: States Current Affairs - 2017