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Home Banking & Finance

World Bank-AIIB to fund DRIP Phase II-III projects

Fiinews by Fiinews
February 5, 2021
in Banking & Finance, Contract, Projects, Tenders
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Kataria updates on dam rehabilitation

The World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB) will provide most of the funds for the Rs.10,211 crore Phase II and Phase III of Dam Rehabilitation and Improvement Project (DRIP) to improve safety and operational performance of selected dams across the country.

DRIP will receive Rs.7,000 crore as an external loan from the two banks with the rest Rs.3,211 crore to be borne by the respective states where the dams are to be rehabilitated and the three central agencies, Central Water Commission, Damodar Valley Corporation & Bhakra Beas Management Board, Minister of State for Jal Shakti Rattan Lal Kataria told Lok Sabha on 4 Feb 2021.

The 10-year scheme is to be implemented in Phase-II and Phase-III, each of six years duration with an overlap of two years.

The scheme has provision for preparation of Operation and Maintenance Manual (O&M) and Emergency Action Plan (EAP) for all selected dams under DRIP Phases II & III.

O&M Manual will cover the improvement/modernization aspect of operational performance of the dam. EAP shall cover dam break analysis, inundation maps and identification of key personnel and response arrangements etc. to enhance resilience against the possible negative impacts. #WorldBank #AIIB #projects #contracts #tenders #Dams /fiinews.com

Tags: AIIBWorld Bank
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