India, ADB Sign $120 miilion Loan Pact to Improve Irrigation in Odisha

With an aim to develop irrigation and water management infrastructure in Odisha, India and the Asian Development Bank (ADB) have signed a $ 120 million loan pact. The agreement was signed between Raj Kumar, Joint Secretary in Department of Economic Affairs and M Teresa Kho, Country Director, ADB's India Resident Mission.

"The financing will be used for modernising seven irrigation subprojects resulting in improved irrigation in over 1,00,000 hectares and strengthening of Water User Associations (WUAs) and the institutional capacity of Odisha's Department of Water Resources," the Finance Ministry said in a statement.

The soft loan is the second tranche of a $ 157.5 million financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program. Some of the selected locations for the investment program are Baitarani, Brahmani, Budhabalanga and Subernarekha river basins and part of Mahanadi Delta.

Source: http://economictimes.indiatimes.com/news/economy/agriculture/india-adb-sign-120-miilion-loan-pact-for-irrigation-in-odisha/articleshow/52635801.cms