India and ADB Signed $65.5 Million Loan to Support Coastal Protection
Posted on:28 Oct 2017 09:39:06
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28 October 2017 Current Affairs: The Asian Development Bank (ADB) and the Government of India signed a $65.5 million loan agreement in New Delhi to continue interventions to check coastal erosion on the Western Coast in Karnataka.
The loan is the Second Tranche of a $250 million financing facility under the Sustainable Coastal Protection and Management Investment Program.
The financing will be used to address the immediate coastal protection needs and for strengthening institutional capacity of Karnataka’s Public Works, Ports and Inland Water Transport Department.
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