World Bank Current Affairs

CCEA approves Revised Cost Estimate of Dam rehabilitation and Improvement Project

Cabinet Committee on Economic Affairs (CCEA) has approved Revised Cost Estimate of Dam Rehabilitation and Improvement Project (DRIP). It has been increased to Rs. 3,466 crore from earlier Rs. 1968 crore. CCEA also gave approval for two-year time extension for project from July 2018 to June 2020.

Revised Funding pattern

Out of total revised cost of  Rs.3,466 crore, Rs.2,628 crore will be funded by World Bank and Rs.747 crore will be funded by DRIP States or Implementing Agencies (IAs) and balance Rs.91 crore will be funded by Central Water Commission (CWC).

Dam Rehabilitation and Improvement Project (DRIP)

The project aims to improve safety and operational performance of 198 Dams from seven states (69 from Tamil Nadu), along with institutional strengthening with system wide management approach. It will also improve safety and operational performance of selected existing dams and mitigate risks to ensure safety of downstream population and property.

DRIP objectives

  • Component I: Rehabilitation of Dam and its appurtenant structures.
  • Component II: Institutional Strengthening.
  • Component III: Project Management.

Primary beneficiaries of this project are both urban and rural communities dependent on reservoir and downstream communities, who are prone to risk associated with dam failure or operational failure. The institutional strengthening component of this project will increase effectiveness of Dam Safety Organisations to take the lead to make dams safe from structural and operational point of view through capacity building of staff and officials.

The project envisages comprehensive rehabilitation of 198 existing dam projects located in seven states viz. Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Karnataka, Uttarakhand (Uttarakhand Jal Vidyut Nigam Limited) and Jharkhand (Damodar Valley Corporation).

Month: Categories: India Current Affairs 2018

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Government inks US$ 74 Million loan agreement for Uttarakhand Workforce Development Project

Union Government has inked US$74 million loan agreement for International Bank for Reconstruction and Development (IBRD) Credit for Uttrakhand Workforce Development Project (UKWDP).

Uttrakhand Workforce Development Project (UKWDP)

The objective of this project is to improve quality and relevance of training at priority Industrial Training Institutes (ITIs) and increase number of labor-market-relevant workers through short term training in Uttrakhand. The closing date for Project is June, 2023, with maturity of 17 years and grace period of 5-year. For this project, 25 ITI’s have been selected – 13 located in District Centers and 12 ITI’s linked to industries. Two out of four women’s ITIs also have been included in the list.

Three components of UKWDP

  • Improve quality and relevance of ITI Training.
  • Increase number of skilled workers certified under National Skills Qualification Framework (NSQE) – Compliant Short Term Training.
  • Policy and institutional development and project management.

World Bank

World Bank is an international financial institution that provides loans to countries of the world for capital projects. Its official goal is reduction of poverty by providing loans to developing countries for capital programmes. It is one of five institutions created at Breton Woods Conference in 1944. It is headquarter is situated at Washington DC, US.

World Bank comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). It is component of World Bank Group, which also includes three more subsidiary organisations viz. International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID). World Bank is part of United Nations system, but its governance structure is different.

Month: Categories: India Current Affairs 2018

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