Asian Development Bank approves USD 503M worth lining project of Son canal in Bihar
The Asian Development Bank (ADB) has approved USD 503-million worth lining project of the Son canal in Shahabad-Bhojpur region of Bihar that would bring immense benefits to the agriculture sector of the region.
The Asian Development Bank (ADB) has approved USD 503-million lining project of the Son canal in Shahabad-Bhojpur region of Bihar that would bring immense benefits to the agriculture sector of the region.
The information was shared during a meeting held by Power and New & Renewable Energy Minister R K Singh on July 9, 2018 with the officials from the ADB and the finance ministry to review the progress of lining project of the Son canal.
• During the meeting, Singh asked the ADB and the finance ministry officials to fix a timeframe for the completion of the project.
• It was agreed during the meeting that the Finance Ministry will give permission to appoint consultants by July 17, 2018 and ADB consultants will start their work by the end of July.
• RK Singh also instructed that the process of a design study, consultation with stakeholders, feasibility report and preparation of tenders should be expedited and the tender for the first phase of the lining of the main canal and branches should be issued by the first week of October.
• The officials present assured Singh that after completion of all due processes, bids for the first phase will be issued by the set deadline.
The estimated cost of the project is USD 503 million (Rs 3272.49 crore), among which USD 352 million will be provided by the Asian Development Bank.
The project will bring immense benefits to the agriculture sector of Shahabad Bhojpur region of Bihar.
• The Asian Development Bank (ADB) is an international development finance institution, which was conceived in the early 1960s as a financial institution that would foster economic growth and cooperation in Asia, one of the poorest regions in the world.
• The institution was established on December 19, 1966 with its headquarters in Manila, the capital city of Philippines. Japan’s Takeshi Watanabe was ADB's first President.
• During its establishment, ADB had 31 members and now it has grown to include 67 members, 48 of which belong to the Asia and Pacific region and 19 outside.
• The main objective of the ADB is to assist its members and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.