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Union Government, ADB signed loan agreement worth 31 Million US dollars

May 8, 2015 12:02 IST

The Union Government and Asian Development Bank (ADB) on 7 May 2015 signed a 31 million US dollars loan agreement to boost water availability in selected river basins in Karnataka and ensure improved water efficiency in irrigation.

The agreement was signed by Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs on behalf of the Union Government and M Teresa Kho, Country Director of ADB in India.

ADB’s loan of 31 million US dollars will cover about 65 percent of the total project cost of 48 million US dollars with the state government of Karnataka providing the balance of 17 million US dollars.

The loan is the first tranche of the Karnataka Integrated and Sustainable Water Resources Management Investment Program of 150 million US dollars, approved by ADB in 2014. The program will improve irrigation efficiency in three river basins in the state saving 1700 million cubic meters of water.

This saved water could be used on an additional 160000 hectares of farmland which will further lead to increase in farm incomes by about 50 percent and benefit about 1.5 million people.

Besides, the loan will help train and certify over 200 Water Resources Department (WRD) staff in integrated water resources management and build capacities of water users cooperative societies.

Through this project, Advanced Centre for IWRM (AC-IWRM) will be developed into a sub-regional accredited institute to provide certification in the field of IWRM.

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