Government signs US$ 250 Million Loan Agreement for Second phase of Dam Rehabilitation & Improvement Project (DRIP)

SOURCE : PIB

What Is The News?

In order to enhance water security in the country and support sustainable development, the Government of India today signed a $250 million loan agreement with World Bank for the Second Phase of Dam Rehabilitation and Improvement Project (DRIP Phase II) to make existing dams and communities safe and resilient across India.

Status Of Dams In India –

India ranks third globally after China and the United States of America, with 5334 large dams in operation. In addition, about 411 dams are under construction at present.

Significance of these Dams –

These dams are vital for ensuring the water security of the Country. Indian dams and reservoirs play an important role in the economic and agricultural growth of our country by storing approximately 300 billion cubic meter of water annually.

Concerns –

Due to deferred maintenance and other health issues, these dams have associated risks in case of failure. The consequences of dam failure can be catastrophic, in terms of loss of human life and property, and damage to the ecology.

About Dam Rehabilitation and Improvement Project:

• The Dam Rehabilitation and Improvement project was launched in 2012 under the Ministry of Water Resources, River Development & Ganga Rejuvenation(now Ministry of Jal Shakti). It is a World Bank-assisted project.
• The Central Dam Safety Organisation of the Central Water Commission is coordinating and supervising the Project implementation

Significance Of the Project –

1. Strengthen dam safety initiatives taken by the Government of India through physical rehabilitation of selected dams by addressing various concerns to improve safety and operational performance
2. Incentivise revenue generation for sustainable operation & maintenance of dams
3.  Infuse global know-how, innovative technologies in dam safety
4. The introduction of a risk-based approach to dam asset management will help  effectively allocate financial resources towards priority dam safety needs
5. Complements the provisions in the Dam Safety Bill 2019, by ensuring capacity building of the dam owners as well as the proposed regulators
6. Generate employment opportunities equivalent to approximately 10,00,000 person days for unskilled workers, and 2,50,000 person days for working professionals.

Funding – DRIP Phase II, co-financed by World Bank (WB) and Asian Infrastructure Investment Bank (AIIB) with US$250 million each, covers large dams in 19 states of the country.

Conclusion – It will ensure long-term sustainability of required knowledge and human resources to assist our dam owners. India will also position itself as a knowledge leader on dam safety, particularly in South and southeast Asia.