India and ADB Sign $42M Loan for Coastal Protection in Maharashtra

Current Context: On December 19, 2024, the Government of India and the Asian Development Bank (ADB) signed a $42 million loan agreement aimed at strengthening coastal protection in Maharashtra.

• This project is designed to enhance the resilience of coastal communities by mitigating the impacts of climate change, such as rising sea levels and increased storm activity.
• It will involve the construction of coastal defenses, restoration of natural ecosystems like mangroves, and community-based initiatives to boost local adaptive capacities.
• The primary goal is to protect lives, property, and livelihoods in coastal areas, ensuring sustainable development and improved quality of life for the residents.

Question:

1 On December 19, 2024, the Government of India signed a $42 million loan agreement with which organization to strengthen coastal protection in Maharashtra?

• A) World Bank
• B) Asian Development Bank (ADB)
• C) International Monetary Fund (IMF)
• D) United Nations Development Programme (UNDP)

Answer: B) The loan agreement was signed between the Government of India and the Asian Development Bank (ADB) to enhance resilience in coastal Maharashtra by addressing climate change impacts.