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New Delhi : A Loan Agreement for financing of Rajasthan Water Sector Restructuring Project for the Desert Areas was signed between Government of India and the New Development Bank (NDB) on February 13, 2018, in New Delhi. This is the first tranche loan of USD 100 million approved by the NDB under the Multi Tranche Financing Facility of USD 345 million for this project.
The objective of this Project is to rehabilitate the 678 km long Indira Gandhi Canal system built during 1958-63 to prevent seepage, conserve water, and enhance water use efficiency as mandated by both national and state level policies on water use, according to a PIB release.
The project implementation period is 6 years. The Government of Rajasthan will implement the project primarily through Rajasthan Water Resources Department.
The Loan Agreement was signed by Govind Mohan, Joint Secretary, Department of Economic Affairs, on behalf of the Government of India, and Shaohua Wu, Director General, Project Financing, on behalf of the NDB. The Project Agreement was signed by Shikhar Agarwal, Principle Secretary, Water Resources Department on behalf of the Government of Rajasthan.