Government signs $ 75 million loan deal with Asian Development Bank for KIUWMIP
Government has signed a loan agreement with Asian Development Bank (ADB) for 75 million dollars and 1.8 million dollar grant for Karnataka Integrated Urban Water Management Investment Program (KIUWMIP).
This loan fund will be used in the three towns of Byadagi, Davanagere and Harihar of Karnataka under the KIUWMIP.
This loan seeks to expand and upgrade: urban water supply and sanitation infrastructure, improve water resource planning, monitoring and service delivery, and strengthen operational and administrative capacity in these towns.
As per this agreement, the loan has a 25 year term including a grace period of five years.
Implications: This project by utilizing the loan fund will help these urban towns to increase water treatment capacity by 15,000 cubic meters per day. It will also help expand and upgrade more than 1,000 kilometers of water pipelines and increase sewage treatment capacity by 48,000 cubic meters per day, thereby promoting water efficiency and environmental protection.
About Karnataka Integrated Urban Water Management Investment Program (KIUWMIP)
- KIUWMIP- is an investment program that aims to improve water resource management in urban areas of Karnataka State in a holistic and sustainable.
- It seeks to modernize and expand urban water supply and sanitation (UWSS) by strengthening relevant institutions related to it in order to enhance their efficiency, productivity and sustainability in water use.
- It takes help of innovative social instruments like as public-private partnership (PPP) or reform oriented incentive funds.
- This Program also aims to improve the condition of more fragile environments located in North Karnataka that are increasingly affected by water resource degradation by promoting climate-resilient development, capacity-development techniques for conducive adaptation.
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Month: Current Affairs - January, 2015