The Centre on Thursday signed an agreement with the Asian Development Bank (ADB) for a $100-million loan to improve drainage system and water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu.
The financing will be used to strengthen the embankments of six major irrigation water channels in the Vennar system and rehabilitate 13 irrigation pumping schemes, said an official statement.
“The project aims to improve existing infrastructure and will provide flood protection and renewed access to irrigation,” said Raj Kumar, Joint Secretary, Ministry of Finance, who signed this agreement on the behalf of the government.
The TN Water Resources Department is responsible for implementing the project, which is expected to be completed by December 2020, said the statement, adding that it is from ADB’s ordinary capital resources and has a 25-year term.
“This loan will help to install flood forecasting and warning systems and a flood risks map drawn up to help communities respond more effectively to extreme events,” said LB Sondjaja, Deputy Country Director of ADB’s India Resident Mission, who signed the agreement for ADB.