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NDB to lend $100 mn for water project in Rajasthan

IANS  |  New Delhi 

has signed a second loan agreement for $100 million with the (NDB) for efficient use of water in desert areas of Rajasthan, an official statement said on Thursday.

"This is the first tranche loan of $100 million approved by the under the of $345 million for this project," the Union Ministry release said.

The loan agreement to Water Sector Restructuring Project for the Desert Areas was signed between and Project Financing here on Tuesday.

The objective is to rehabilitate the 678-km-long Indira Gandhi Canal system built during 1958-63 to prevent seepage, conserve water and enhance water use efficiency as mandated by both national and state level policies on water use.

"The project implementation period is six years. The government will implement the project primarily through the Water Resources Department," said the release.

The representatives of NDB, Central and state governments also signed Facility Framework Agreement under which has agreed to provide Multi-for $345 million to the country for this project.

The project is aimed at arresting the seepage by refurbishing the canal, rehabilitation of waterlogged areas, modernisation of the irrigation management practices by involving water users' associations, and strengthening of drinking water supply and irrigation facilities.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 15 2018. 21:52 IST
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