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Union Govenment signs $ 75 million loan deal with ADB

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The Government of India has signed an agreement with Asian Development Bank (ADB) for $75 million loan to improve water resource management in three towns of Karnataka namely, Byadagi, Davanagere and Harihar in the Upper Tungabhadra sub-basin. The project is named as Karnataka Integrated Urban Water Management Investment Program (KIUWMIP).

The 25-year term loan has a grace period of five years. The bank also provided $1.8 million grant along with the loan.

According to the Ministry of Finance Department of Economic Affairs, the project will help to increase the water treatment capacity by 15,000 cubic meters per day. It will expand and upgrade more than 1,000 km of water pipelines and increase sewage treatment capacity by 48,000 cubic meters per day, thereby promoting water efficiency and environmental protection.