Government signs $ 250 million loan agreement for phase 2 of dam safety project

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New Delhi, Aug 4 (PTI) To improve water security in the country and support sustainable development, India on Wednesday signed a $ 250 million loan agreement with the World Bank for the second phase of the dam rehabilitation and improvement project aimed at building existing dams. safe and resilient nationwide, a statement said.

This new program will strengthen the dam safety initiatives taken by the government through the physical rehabilitation of selected dams by addressing various concerns to improve safety and operational performance, institutional strengthening in various ways, generation of ancillary income for the ‘sustainable operation and maintenance of dams.

Ministry Jal Shakti said 10 states – Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan and Tamil Nadu – and the Central Water Commission attended the loan signing ceremony.

The agreement was signed by Rajat Kumar Mishra, Deputy Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India. Jal Shakti’s ministry was represented by Debashree Mukherjee, Additional Secretary and Junaid Ahmad, Country Director, India on behalf of the World Bank as well as official representatives of the states concerned.

“In order to improve water security in the country and support sustainable development, the Indian government today signed a loan agreement of $ 250 million with the World Bank for the second phase of the rehabilitation project. and Dam Improvement (DRIP Phase II) to make existing dams and communities safe and resilient across India, ”the statement said.

The program is designed to infuse global know-how and innovative technologies in dam safety, the ministry said.

Another major innovation envisioned under the project, which has the potential to transform the management of dam safety in the country, is the introduction of a risk-based approach to dam asset management that will help to effectively allocate dam safety. financial resources for priority dam safety needs.

In addition, the implementation of the program will enable Indian dam owners to prepare their human resources to comprehensively manage many of the important activities envisaged in the proposed dam safety legislation.

The balance of $ 250 million in external financing from the Asian Infrastructure Investment Bank (AIIB) is under review, the statement added.

The program has the participation of 19 states and three central agencies, he said.

The budgetary expenditure for the two phases is Rs 10,211 crore for an implementation period of 10 years. The program will be implemented in two phases, each lasting six years, with an overlap of two years.

The program will enable states and dam owners to extend these safety protocols and activities beyond the selected dams to all other dams under their jurisdiction, thus improving the overall dam safety culture in the country.

This program complements the provisions of the Dam Safety Bill 2019, ensuring the capacity building of dam owners as well as proposed regulators, as well as the creation of the necessary protocols for dam safety.

“It is likely to generate employment opportunities equivalent to around 10,000,000 person-days for unskilled workers and 250,000 person-days for active professionals,” he said.

India ranks third in the world after China and the United States, with 5,334 large dams in operation. In addition, around 411 dams are currently under construction. There are also several thousand small dams.

These dams are vital to ensuring the country’s water security. Indian dams and reservoirs play an important role in the economic and agricultural growth of our country by storing around 300 billion cubic meters of water per year.

According to the statement, these dams present a major responsibility in terms of asset management and security. Due to deferred maintenance and other health issues, these dams present associated risks if they fail. The consequences of a dam failure can be catastrophic, in terms of loss of life and property, and damage to the environment, he said.

The first phase of the DRIP program, which covered 223 dams in seven states, improved the safety and operational performance of some dams, as well as institutional strengthening through a system-wide management approach, was concluded in March. of this year.

In order to continue the momentum gained by the current DRIP and expand it vertically and horizontally, the new program, DRIP Phase II, co-financed by the World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB) with $ 250 million each, covers large dams in 19 states nationwide, the statement added. PTI PR CK


Disclaimer: – This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI



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