India, ADB sign 100 Million US dollar loan agreement for Cauvery Delta project in Tamil Nadu
Posted on:15 Jul 2016 18:28:45
15 July 2016 Current Affairs GK: The Union Government and the Asian Development Bank (ADB) has signed a 100 million US dollars loan agreement to strengthen key irrigation and drainage system and improve water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu on 14 July 2016 .
The financing will be used to strengthen embankments of six major irrigation water channels in the Vennar system and rehabilitate 13 irrigation pumping schemes.
Highlights : The project aims to improve existing infrastructure and will provide flood protection and renewed access to irrigation.
Flood forecasting and warning systems will be installed and a flood risks map drawn up to help communities respond more effectively to extreme events.
The Water Resources Department of the State of Tamil Nadu is responsible for implementing the project.The loan from ADB’s ordinary capital resources has a 25-year term.The project is expected to be completed by December 2020.
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