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World Bank to raise lending for water-related projects to $4 b
Our Bureau
New Delhi
,
Oct. 6
THE World Bank on Thursday announced it would lend $4 billion for water related projects in the next four years.
"The World Bank will increase lending to India from $200 million a year to about $1 billion a year for the next four years," the World Bank's Senior Water Advisor for South Asia, Mr John Briscoe, said here releasing a draft on `India's Water Economy: Bracing for a Turbulent Future'.
Over the next four years, the bank would lend $1,400 million for irrigation, $700 million for rural water and sanitation, $600 million for hydro projects, $400 million for managing water resources, $200 million for watershed management and $100 million for urban water and sanitation, Mr Briscoe said quoting a report prepared by him in this regard.
India had reaped great benefits from its investments in water infrastructure, but it needed a lot more of it, he said.
While developed countries such as the US and Australia have a storage capacity of 5,000 cubic metre per individual, India's dams can only store 200 cu.m. per person.
Regarding the plan to inter-link major rivers in the country, Mr Briscoe said, "South Africa has done it, Western part of USA has done it, why can't India."
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