ADB to lend $375 mn for irrigation projects in MP
New Delhi : India on Thursday signed a $375 million loan agreement with the Asian Development Bank (ADB) for expanding irrigation networks and system efficiency in Madhya Pradesh.
"The project will support the efforts of government of Madhya Pradesh for irrigation expansion and modernisation plan by maximising irrigation efficiency and water productivity," Economic Affairs Joint Secretary Sameer Kumar Khare said.
As per the government, Madhya Pradesh Irrigation Efficiency Improvement Project will develop 125,000 hectares of new, highly efficient and climate resilient irrigation networks and improve water use efficiency in more than 400 villages, benefiting over 800,000 people in the state.
Deputy Country Director of ADB's India Resident Mission Sabyasachi Mitra said the funds will be used to develop a large-scale pressurised and automated irrigation system for boosting irrigation efficiency.
"The project will support institutional innovations through introduction of a design-build-operate contracting approach," Mitra said.