For Neeranchal National Watershed Project Union Government signed loan agreement with World Bank [ Current Affairs ]

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To improve watershed management in rural rain fed areas, Union Government has signed a loan agreement with World Bank for the Neeranchal National Watershed Project. This lone amount will used to maintain the watershed activities of the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) in selected sites of 9 states which are:

  • Andhra Pradesh
  • Chhattisgarh
  • Telangana
  • Jharkhand
  • Gujarat
  • Maharashtra
  • Madhya Pradesh
  • Odisha
  • Rajasthan

The loan amount should be of US $178.50 million with a maturity of 25 years, including a 5 year grace period.

International Development Association (IDA) has approved this loan.

About Neeranchal National Watershed Project

  • The Union Ministry of Rural Development has launched this project for a six-year period (2016 - 21) to complete objectives PMKSY.
  • With this implementation the PMKSY in hydrology and water management, agricultural production systems, capacity building and monitoring and evaluation will get best support.
  • The main aim behind it is to ensure access to irrigation to every farmland (Har Khet Ko Pani) and for efficient use of water (Per Drop More Crop).
  • The Union Cabinet has approved the project in October 2015 with a total budget outlay of Rs. 2142 crore.
  • And from that Government will share Rs. 1071 crore (50%) and the rest 50 % of the World Bank.

- Published on: January 18, 2016