GoI, World Bank sign 175mn dollar loan agreement for National Hydrology Project

New Delhi, Apr 18: The Government of India and the World Bank today signed the 175 million dollar loan agreement for the National Hydrology Project.
The project will strengthen the capacity of institutions to assess the water situation in their regions and reduce their vulnerability to recurring flood and droughts, saving hundreds of lives and livelihoods.
With rainfall in India being highly seasonal and 50 per cent of precipitation falling in just 15 days and over 90 percent of river flows in just four months, the country continues to be water-stressed and is faced with the challenge of managing its water needs amidst recurring floods and drought.
‘The project is expected to help forge an integrated approach to developing, managing, and regulating both surface and groundwater resources jointly at the basin and aquifer scale.
It would also strengthen the institutional capacity for integrated water resources management at the Centre and in the states,’ said Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance, Government of India.