India, ADB sign $120 mn loan pact for irrigation in Odisha

07 June, New Delhi

India Tuesday signed loan agreement of USD 12 crore with the Asian Development Bank in New Delhi to improve irrigation and water management infrastructure in Odisha.

Finance Ministry in a release said, the financing will be used for modernizing seven irrigation subprojects resulting in improved irrigation in over one lakh hectares and strengthening the institutional capacity of Odisha’s Department of Water Resources.

Speaking on the occasion, Joint Secretary, Department of Economic Affairs, Raj Kumar said that agriculture is a priority sector for the country and especially for Odisha because of its high potential to generate jobs and contribute to inclusive and sustainable economic growth.

He said, the project aims to improve existing irrigation infrastructure, operation and maintenance, and water use efficiency that will lead to higher agricultural productivity.