WASHINGTON, DC, March 1, 2019 – The World Bank Bank’s Board of Executive Directors has approved additional financing of $137 million for the Dam Rehabilitation and Improvement Project (DRIP) that will help rehabilitate and modernize over 220 selected large dams in the states of Karnataka, Kerala, Madhya Pradesh, Odisha, Tamil Nadu and Uttarakhand.
In 2010, the Bank’s Board approved $350 million to finance the Dam Rehabilitation and Improvement Project to improve the safety and sustainable performance of over 220 selected dams in India. .
including strengthening the institutional, legal and technical framework for dam safety assurance within the Government of India and in the participating states.
“Infrastructure management often falls prey to a costly ‘build-decay-rebuild’ cycle. Breaking this pattern by ensuring that dams are well managed, properly maintained and efficiently operated is essential. ," said Junaid Ahmad, Country Director World Bank.
. Rainfall, which occurs mainly in intense and unpredictable downpours within short monsoon seasons, is of high temporal and spatial variability and does not meet year-round irrigation and other water demands. Considering this, storage of water is essential for India. The dams play a key role in fostering rapid and sustained agricultural and rural growth and development – a key priority for the Government of India since independence.
. Flood protection measures in many dams need to be supported as well, as their failure could pose serious risks to downstream communities.
that acts as a “lighthouse”, showcasing how best to make dams fully operational and safe in a technically sound and sustainable manner.
"," say Chabungbam Rajagopal Singh and Arun Kumar Kolsur, Task Team Leaders for the project.
The $137 million loan from the International Bank for Reconstruction and Development (IBRD), has a 3-year grace period, and a final maturity of 16 years.
