+
AIIB approves $ 145 million irrigation, $ 65 million solar investments in India
ECONOMY & POLICY

AIIB approves $ 145 million irrigation, $ 65 million solar investments in India

The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a USD 145-million loan to India to improve irrigation service delivery and strengthen flood risk management in West Bengal. Earlier this month, AIIB President Jin Liqun also approved a USD 65-million 250-megawatt (MW) solar power project in Jodhpur.

West Bengal has 37,660 sq km of flood-prone areas out of a total area of 88,752 sq km. An analysis of the floods over the last 41 years shows that the eastern state has faced severe floods in all but five years. Another concern is the potential threat of climate change, which may have complex implications on water availability and amplify challenges for 70 per cent of the local population dependent on agriculture.
 
The project, co-financed with the World Bank, is expected to strengthen the management of the Damodar Valley Command Area irrigation scheme to improve service delivery and efficiency. The funds will also be used to modernise irrigation infrastructure at main, branch, distributary and minor canal levels and invest in structural measures to reduce flooding in the project area.
 
“This investment will help thousands of farmers get adequate water through scientific water conservation and distribution methods,” said AIIB Vice President and Chief Investment Officer DJ Pandian. “To support proper irrigation of the affected area, this project will also help build local technical capacity to improve water service delivery and efficient use.”

Meanwhile, as part of ongoing efforts to mobilise private capital for infrastructure, President Jin also approved a USD 65-million 250-MW solar power project in Jodhpur, the second largest city in the north-western Rajasthan state. Hero Future Energies, an independent power producer, is developing the project via its special purpose vehicle Clean Solar Power (Jodhpur). The project will add 250 MW of solar capacity and result in clean energy generation of 616 MWh in 2022.

The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a USD 145-million loan to India to improve irrigation service delivery and strengthen flood risk management in West Bengal. Earlier this month, AIIB President Jin Liqun also approved a USD 65-million 250-megawatt (MW) solar power project in Jodhpur.West Bengal has 37,660 sq km of flood-prone areas out of a total area of 88,752 sq km. An analysis of the floods over the last 41 years shows that the eastern state has faced severe floods in all but five years. Another concern is the potential threat of climate change, which may have complex implications on water availability and amplify challenges for 70 per cent of the local population dependent on agriculture. The project, co-financed with the World Bank, is expected to strengthen the management of the Damodar Valley Command Area irrigation scheme to improve service delivery and efficiency. The funds will also be used to modernise irrigation infrastructure at main, branch, distributary and minor canal levels and invest in structural measures to reduce flooding in the project area. “This investment will help thousands of farmers get adequate water through scientific water conservation and distribution methods,” said AIIB Vice President and Chief Investment Officer DJ Pandian. “To support proper irrigation of the affected area, this project will also help build local technical capacity to improve water service delivery and efficient use.”Meanwhile, as part of ongoing efforts to mobilise private capital for infrastructure, President Jin also approved a USD 65-million 250-MW solar power project in Jodhpur, the second largest city in the north-western Rajasthan state. Hero Future Energies, an independent power producer, is developing the project via its special purpose vehicle Clean Solar Power (Jodhpur). The project will add 250 MW of solar capacity and result in clean energy generation of 616 MWh in 2022.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code