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Maharashtra Government to raise $270 m from Green Climate Fund

The state government of Maharashtra is planning to raise $270 million from the Green Climate Fund with the help of the 2030 Water Resources Group (2030WRG).

Aug 9, 2017 15:16 IST
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 Maharashtra to raise $270 for water conservation The state government of Maharashtra is planning to raise $270 million from the Green Climate Fund with the help of the 2030 Water Resources Group (2030WRG).

The government plans to invest the funds raised in integrated watershed programmes such as Jalyukt Shivar Yojana, which has successfully improved the ground water level in drought affected areas of the state.

However, the ground water needs to be further connected with the efficient use of water for which proper technology and infrastructural development is needed at the village level, where the funds will come useful. It will also be used in crop diversification and adding market linkages.

What is Green Climate Fund?

It is a new fund under the UN that is guided by the principles and provisions of the UN Framework Convention on Climate Change.

What is 2030 Water Resources Group?

• The group is a public-private-civil society collaboration for water resources reform in developing economies, hosted by the International Finance Corporation (IFC), a member of the World Bank Group.

• The main objective of the group is to close the gap between the demand and supply of water by the year 2030.

• Further, it facilitates open, trust-based dialogue processes to drive action on water resources reform in water stressed countries in developing economies.

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The government’s fund raising proposal would first be referred for approval to the State Level Climate Change Committee after which it would be referred to the Central Government. The approvals are expected to pass through by early 2018 and it would take about a year for the state government to get the funding.

Besides this, the state government has also launched the Maharashtra Water Resources Multi-Stakeholder Platform.

Key Details

• The platform will aim to address critical water resources challenges in the State.

• It would be chaired by the Chief Secretary of Maharashtra.

• It will aim to accelerate water use efficiency programme in irrigated areas, along with agriculture growth and income enhancement.

• It will also develop public-private-community partnership models for implementation of the programmes.

• Finally, it will develop viable financing solutions, including blended finance models for promoting efficient use of water.

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