Union Government, World Bank signed Financing Agreement for Bihar Kosi Basin Development Project

Jan 21, 2016 16:09 IST

The Union Government and World Bank on 20 January 2016 signed the Financing Agreement for World Bank (IDA) assistance of 250 million US dollars for Bihar Kosi Basin Development Project.

The Financing Agreement was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs, Union Government and Onno Ruhl, Country Director in India, World Bank.

It is a loan for an implementation period of 5 years. Bihar Government will be the implementing agency.

Highlights of the Bihar Kosi Basin Development Project
• The objective of the project is to enhance resilience to floods and increase agricultural production and productivity in the targeted districts in the Kosi River Basin.
• It aims to enhance Bihar’s capacity to respond promptly and effectively to an eligible crisis or emergency.
• The primary beneficiaries will be rural producers and households in the Kosi River Basin who are regularly exposed to floods.
• It has five components: (i) Improving Flood Risk Management; (ii) Enhancing Agricultural Productivity and Competitiveness; (iii) Augmenting Connectivity; (iv) Contingent Emergency Response; and (v) Implementation Support.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes16 People Agreed

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK