Question: What was the amount of loan sanctioned to promote irrigation in the state of Madhya Pradesh recently by the Asian Development Bank?
(a) 275 million dollar
(b) 327 million dollar
(c) 375 million dollar
(d) 450 million dollar
Answer: (c)
Related Facts
- On 31st May, 2018 by the Asian Development Bank sanctioned a loan of rupees 375 million dollar to Madhya Pradesh in order to promote irrigation.
- The purpose of this project is to improve the irrigation system of Madhya Pradesh and to help increase the income of the farmer.
- Project will expand the irrigation network and system efficiency.
- Project’s total cost amount is $ 535.1 million.
- In which the government will be given an amount of 160.71 million dollars.
- The projected completion period of the project is September, 2025.
- In the first phase, a new, efficient climate friendly network will be developed under Kundalya Irrigation Project (125,000 hectares).
- This project will be able to irrigate 7.2 million hectares of land by 2025.
- It will help the farmers to adopt micro irrigation strategies and, in total, 838,000 people of 419 villages will be helped.
Reference:
https://www.financialexpress.com/economy/adb-funds-375-mn-project-for-irrigation-boost-in-madhya-pradesh/1188477/
https://www.business-standard.com/article/news-ians/adb-approves-loan-to-improve-madhya-pradesh-s-irrigation-system-118053100916_1.html