Indo – WB concord of US$ 250 mn for “Bihar Kosi Basin Development”

“Bihar Kosi Basin Development Project” got a financial succor of US$ 250 million from World Bank after the accordment has been endorsed by the Government of India and the World Bank.

• The Financing consensus was signed by the Raj Kumar (Joint Secretary, DEA) and Mr. Onno Ruhl, Country Director in India (on behalf of WB) while the Project concord was signed by the Mr. Shishir Sinha, Development Commissioner.

About Project

• Objective of Project – To intensify flexibility to floods, to expand agricultural production and productivity in the intended districts in the Kosi River Basin and to escalate Bihar’s potential with riposte to crisis or emergency.
• Implementation period – 5 years
• Implementing agency – Bihar

Beneficiaries of Project

• Rural producers and households in the Kosi River Basin who are regularly exposed to floods.
• Farmers who lost their agricultural lands due to the silt deposits by the 2008 Kosi River Flood.
• Farmers, who are currently without access to irrigation and other technologies, improved agricultural practices and an adequate transport network.

5 Components of project

• Implementation Support
• Augmenting Connectivity
• Contingent Emergency Response
• Improving Flood Risk Management
• Enhancing Agricultural Productivity and Competitiveness

Keys
Bihar CM– Nitish Kumar
Bihar Capital – Patna
World Bank HQ – Washington, D.C., US
World Bank President – Jim Yong Kim