Both statements are correct 

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. 

Source: Article