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India and ADB sign huge amount of loan to Odhisha

Loan of USD 120 million is signed in order to improve irrigation and water infrastructure in Odisha

Policy Pulse
Publish Date: Jun 8 2016 2:25PM | Updated Date: Jun 8 2016 2:25PM

India and ADB sign huge amount of loan to Odhisha

Irrigation is a tiresome process and more than that, it is a costly process. 

 

So, in order to ease the tension of the farmers, India along with Asian Development Bank (ADB) has signed a USD 120 million loan in order to improve irrigation and water infrastructure in Odisha.

 

The soft loan is the second tranche of a USD 157.5 million financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.

  

The areas that are selected for this program are Baitarani, Brahmani, Budhabalanga and Subernarekha river basins and also a part of Mahanadi Delta.

 

The government has planned to modernize seven irrigation subprojects that would further result in improvement of irrigation in over 1, 00,000 hectares and also to strengthen Water User Associations (WUAs) and the institutional capacity of Odisha's Department of Water Resources.

 

The loan agreement is signed by Raj Kumar, Joint Secretary in Department of Economic Affairs and M Teresa Kho, Country Director, ADB's India Resident Mission.

 

 

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.