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Funds push for project to benefit desert areas
Context:
- A new loan agreement for water sector is set to benefit the desert areas in Rajasthan through restructuring of Indira Gandhi Canal and formulation of flood management systems for the Ravi, Beas, Sutlej and Ghaggar rivers.
The agreement:
- The agreement has been signed with New Development Bank.
- The release of 1,000 crore as first instalment of a loan worth 3,300 crore, was signed.
- The loan amount of second phase will be released in April, followed by the release of subsequent instalments to match the project’s implementation.
Utilization of the loan amount:
- Utilization of the loan amount would facilitate:
- usage of rainwater and floodwaters of the four rivers coming from Punjab,
- stopping the flow of excess water towards the India-Pakistan border,
- restructuring and repairing of Indira Gandhi Canal and its distributaries will help solve the problems of loss of water and water-locking in the agricultural fields, and
- ensure the supply of irrigation water to the farmers at the tail-ends of the Indira Gandhi Canal Project.
