NEW DELHI: The government of India has signed a $250 million loan agreement today with World Bank for the second phase of the Dam Rehabilitation and Improvement Project (DRIP Phase II) . This initiative has been taken to enhance water security in the country and support sustainable development.
DRIP Phase II will be concerned with making existing dams and communities safe and resilient across India. Nineteen states and three central agencies are a part of the scheme. The loan agreement was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance; and Debashree Mukherjee, Additional Secretary, Ministry of Jal Shakti, on behalf of the Government of India; and Junaid Ahmad, Country Director, World Bank India.
Reports state that this new scheme will strengthen dam safety initiatives taken by the Government of India. This will be done through physical rehabilitation of selected dams by addressing several concerns to improve safety and performance. Moreover, this scheme is designed to infuse global know-how and innovative technologies in dam safety management in the country. This can be seen as a transforming approach to dam asset management that will assist effective allocation of financial resources towards dam safety needs.
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