India, World Bank signs $250 million loan agreement to make existing dams safe and resilient | Daily Current Affairs Dose

India, World Bank signs $250 million loan agreement to make existing dams safe and resilient | Daily Current Affairs Dose

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is India, World Bank signs $250 million loan agreement to make existing dams safe and resilient.

Our Daily Current Affairs Dose 2021 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

India, World Bank signs $250 million loan agreement to make existing dams safe and resilient | Daily Current Affairs Dose

India, World Bank signs $250 million loan agreement to make existing dams safe and resilient: The Government of India, the Central Water Commission, government representatives from 10 participating states and the World Bank signed a $250 million project for long-term dam safety program and improving the safety and performance of existing dams across various states of India.

India, World Bank signs $250 million loan agreement to make existing dams safe and resilient: Key Highlights

The Second Dam Rehabilitation and Improvement Project (DRIP-2) will strengthen dam safety by building dam safety guidelines, bring in global experience, and introduce innovative technologies. Another major innovation envisaged under the project, that is likely to transform dam safety management, is the introduction of a risk-based approach to dam asset management that will help to effectively allocate financial resources towards priority dam safety needs.

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Which state will benefit from the $250 million loan agreement between India and World Bank?

The project will be implemented in approximately 120 dams across the states of Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan, and Tamil Nadu, and at the national level through the Central Water Commission (CWC). Other states or agencies may be added to the project during project implementation.

Read Also: India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal

World Bank support to dam safety in India includes the recently closed DRIP-1 ($279 million + $62 million Additional Financing) that improved the safety and sustainable performance of 223 dams in six states of India and one central agency.

India, World Bank signs $250 million loan agreement: The Agreement Signed by

The agreement was signed by Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India; representatives from the state governments of Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan, and Tamil Nadu; and Mr. Junaid Ahmad, Country Director, India on behalf of the World Bank.

Important facts for upcoming exams from the above Current Affairs Topic

• Formation of the World Bank: July 1944
• Headquarters of the World Bank: Washington, D.C.
• Members of the World Bank: 189 countries (IBRD), 173 countries (IDA)
• President of the World Bank: David Malpass
• MD and CFO of the World Bank: Anshula Kant
• Chief Economist of the World Bank: Carmen Reinhart