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India signs Rs 1,855 cr loan agreement with World Bank for dam infra
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.
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