India signs Rs 1,855 cr loan agreement with World Bank for dam infra
05 Aug 2021
2 Min Read
CW Team
The government of India announced that it signed nearly a Rs 1,855 crore loan agreement with the World Bank, and the funds would be utilised to construct the current dam infrastructure safe in the country.
The government representatives and the Central Water Commission (CWC), including ten participating states, are also part of the loan pact.
The Rs 1,855 crore loan is for the long-term safety of the dam programme and enhancing the performance and safety of existing dams over several states in India.
According to the media reports, the Second Dam Rehabilitation and Improvement Project (DRIP-2) would strengthen the safety of the dam by building security guidelines, introducing global experience, and innovative technologies.
Under this project, another huge innovation envisioned is likely to modify damn safety management, launching a risk-based strategy to dam asset management.
It would effectively benefit from allocating financial resources towards the priority of dam safety requirements. The project would include almost 120 dams over Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan, Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Tamil Nadu, and at the national level via the CWC.
During the execution, the addition of other states or agencies could take place in the project. The Ministry of Finance, the Department of Economic Affairs, and the Additional Secretary signed the loan agreement on behalf of the central government.
The World Bank assistance for dam safety in India comprises the recently finished DRIP-1. This project improved the security and sustainable production of 223 dams over six states and one central agency.
DRIP-2 would support integrated reservoir services and flood forecasting systems. It would add to build climate resilience, implementation, and preparation of emergency operation plans to allow vulnerable downstream communities to be ready and improve resilience against the expected negative risks and impacts of climate change.
It would also offer the piloting of supplemental income generation schemes like floating solar panels.
The government of India announced that it signed nearly a Rs 1,855 crore loan agreement with the World Bank, and the funds would be utilised to construct the current dam infrastructure safe in the country.
The government representatives and the Central Water Commission (CWC), including ten participating states, are also part of the loan pact.
The Rs 1,855 crore loan is for the long-term safety of the dam programme and enhancing the performance and safety of existing dams over several states in India.
According to the media reports, the Second Dam Rehabilitation and Improvement Project (DRIP-2) would strengthen the safety of the dam by building security guidelines, introducing global experience, and innovative technologies.
Under this project, another huge innovation envisioned is likely to modify damn safety management, launching a risk-based strategy to dam asset management.
It would effectively benefit from allocating financial resources towards the priority of dam safety requirements. The project would include almost 120 dams over Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan, Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Tamil Nadu, and at the national level via the CWC.
During the execution, the addition of other states or agencies could take place in the project. The Ministry of Finance, the Department of Economic Affairs, and the Additional Secretary signed the loan agreement on behalf of the central government.
The World Bank assistance for dam safety in India comprises the recently finished DRIP-1. This project improved the security and sustainable production of 223 dams over six states and one central agency.
DRIP-2 would support integrated reservoir services and flood forecasting systems. It would add to build climate resilience, implementation, and preparation of emergency operation plans to allow vulnerable downstream communities to be ready and improve resilience against the expected negative risks and impacts of climate change.
It would also offer the piloting of supplemental income generation schemes like floating solar panels.
Image Source
Next Story
Kolkata鈥檚 luxury housing market sees price growth amid mixed trends
A new study by Nklusive reveals that Kolkata鈥檚 luxury residential market (Rs 5鈥�10 crore) recorded a 33 per cent year-on-year rise in supply and a 52 per cent increase in sales in calendar year 2024 (CY24). South Kolkata led with 78 per cent of the segment鈥檚 supply. The average price rose by 6 per cent鈥攆rom Rs 17,519 to Rs 18,600 per sq ft鈥攚hile unsold inventory grew by 15 per cent. Monthly absorption improved from 2 to 3 units.In contrast, the ultra-luxury segment (Rs 10 crore and above) experienced a 17 per cent decline in supply and a 30 per cent fall in sales. Central Kolkata acco..
Next Story
New Expressway to Cut Pune-Bengaluru Travel Time by Half
The upcoming Pune-Bengaluru Expressway is expected to significantly improve connectivity and economic opportunities across Maharashtra and Karnataka. This 700-kilometre greenfield, access-controlled highway will cut the travel time between Pune and Bengaluru from 15 hours to just 7 hours, facilitating easier movement for both commuters and businesses. Starting from Bommanal in Karnataka鈥檚 Athani Taluk, the expressway will traverse important districts such as Belagavi, Bagalkot, and Jamakhandi. It will then enter Maharashtra at Kanjle, connect with the proposed Pune Ring Road, and pass throug..
Next Story
Nagpur鈥檚 Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic
To alleviate traffic congestion and enhance safety at Koradi Naka in Nagpur, a Y-shaped flyover is currently being constructed on National Highway 47. Demolition work has already commenced, with the main construction scheduled to start on June 20, 2025.The project, costing Rs 430.37 billion, involves building a 1,090-meter-long flyover that will connect Farsa, the Mahadula Railway Overbridge (ROB), and Bokhara Road, and will also feature an underpass. The existing structure will be repurposed into a service road to facilitate local traffic.Koradi Naka has been identified as a significant "blac..
