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India has signed loan agreement of US 12 crore dollars with the Asian Development Bank

India has signed loan agreement of US 12 crore dollars with the Asian Development Bank (ADB) to improve irrigation and water management infrastructure in Odisha.
On 7 June 2016 India signed loan agreement of 12 crore ($120 million) US dollars with the Asian Development Bank (ADB) to improve irrigation and water management infrastructure in Odisha.
•    The financing will be used for modernizing seven irrigation subprojects resulting in improved irrigation in over one lakh hectares.
•    It will also help in strengthening of Water User Associations (WUAs) and the institutional capacity of Odisha’s Department of Water Resources.
•    The project aims to improve existing irrigation infrastructure, operation and maintenance, and water use efficiency that will lead to higher agricultural productivity.
•    The selected areas for the investment program are the Baitarani, Brahmani, Budhabalanga, and Subernarekha river basins and part of the Mahanadi delta.
•    The loan is the second tranche of a 157.5 million dollar financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.
•    The second tranche loan from ADB’s ordinary capital resources has a 20-year term. 
•    The State of Odisha, acting through its Department of Water Resources is responsible for implementing the tranche 2 activities and overall program, which are both due for completion by September 2018.

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