India, ADB sign $120 million loan pact for irrigation in Odisha
Free Current Affairs to Your Email
Posted on:07 Jun 2016 18:09:08
07 June 2016 Current Affairs: India and the Asian Development Bank (ADB) on 6 June 2016 signed a $120 million loan pact to improve irrigation and water management infrastructure in Odisha.
The soft 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 modernising seven irrigation subprojects resulting in improved irrigation in over 1,00,000 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 parts of Mahanadi delta.
Raj Kumar, Joint Secretary in Department of Economic Affairs and M Teresa Kho, Country Director, ADB's India Resident Mission signed the loan agreement.
The second tranche loan from ADB's ordinary capital resources has a 20-year term. Odisha, acting through its Department of Water Resources, is responsible for implementing the second tranche activities and overall program, which are both due for completion by September 2018.
FreshersLive - No.1 Job site in India. Here you can find latest 2017 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.