The agreement was signed between Odisha's Water Resources Department and National Bank for Agriculture and Rural Development (NABARD) where Patnaik was also present.
The GCF assistance will be routed through NABARD.
Apart from renovation and improvement of 10,000 tanks, the project envisages providing recharge shafts to recharge at least 1,65,000 acre feet of water to the aquifers development of 1,000 deep bore wells with solar pumping based micro irrigation and capacity building of farmers.
The project will be implemented in five years.
Anticipating that the prevailing climate change will have an adverse impact on water resources, the state government had sought financial assistance from the GCF.
The project will be implemented in 15 of the state's 30 districts, official sources said.
The districts where the project will be implemented are: Bargarh, Bolangir, Boudh, Gajapati, Kalahandi, Kandhamal, Keonjhar, Koraput, Malkangiri, Mayurbhanj, Nuapada, Nabarangpur, Rayagada, Sambalpur and Sonepur.
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