Gol, World Bank Signed $250 million Loan Agreement under DRIP Phasell


Safe and resilient The Government of India (Gol) has signed A US $250 million (Rs 1,855 crore) loan Agreement with the World Bank (WB) for The Second Dam Rehabilitation and Improvement Project (DRIP-2) Phase l1, The world’s largest dam management Program. The agreement is the 1st phase Of ‘DRIP Phase ll and Phase ll”.
•The loan will be provided from the International Bank for Reconstruction And Development (1BRD), the lending Arm of WB Group and it has a maturity
Of 13 years with a grace period of 6 Years .
•DRIP Phase lI will provide financial
Support to the Gol’s long-term National Dam Safety Program and improve the Safety and performance of existing Dams across various states of India.
•The agreement was between the Ministry of Jal Shakti, Central Water Commission (CWC), representatives of
10 participating states (Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya,
Odisha, Rajasthan, and Tamil Nadu) And the WB.
About World Bank:
President – David R. Malpass (13th President)
Headquarters Washington DC, USA
World Bank Country Director in India
Junaid Ahmad

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