- The World Bank has approved a loan of $250 million for India so that the country can make efforts to have a long-term dam safety program to enhance the safety and performance of existing dams across various states.
- The funds will be used for Second Dam Rehabilitation and Improvement Project (DRIP-2), which will be implemented at the national level through the Central Water Commission (CWC).
- Around 120 dams from states like Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan, and Tamil Nadu will be upgraded to enhance their safety and resilience.
- The DRIP-2 project will strengthen dam safety through framing dam safety guidelines and the usage of innovative technologies.
- The funds will be used to introduce a risk-based approach to dam asset management which will effectively allocate financial resources for dam safety needs.
- The project will also help to develop flood forecasting systems and integrated reservoir operations which will benefit the communities to avoid negative impacts and risks of climate change.
- During the DRIP-1 project, 223 dams in six states of India were enhanced with safety. For this, the World Bank had allotted $279 million + $62 million Additional Financing support to GOI.
- Static Part:
- HQ of World Bank: Washington, D.C. U.S
- President of World Bank: David Malpass
Question:
Q.1 Which financial organisation approved a loan of $250 million for India to enhance its dam safety in various states?
a. World Bank
b. Asian Development Bank
c. International Monetary Fund
d. Asian Infrastructure Investment Bank
a. World Bank
b. Asian Development Bank
c. International Monetary Fund
d. Asian Infrastructure Investment Bank
