Question: How much does the World Bank is providing as a financial assistance according to an agreement signed by it for the Bihar Kosi Basin development project?
(a) 250 Million dollars
(b) 200 Million dollars
(c) 275 Million dollars
(d) 300 Million dollars
Ans (a)
Related facts:
- Government of India and the World Bank on January 20, 2016 at New Delhi signed an agreement according which World Bank (IDA) will provide an assistance of US$ 250 million for Bihar Kosi Basin Development Project.
- The Financing Agreement was signed by Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Mr. Onno Ruhl, Country Director in India, on behalf of the World Bank
- The objective of the project is to enhance resilience to floods and increase agricultural production and productivity in the targeted districts in the Kosi River Basin, and to enhance Bihar’s capacity to respond promptly and effectively to an eligible crisis or emergency.
- The primary beneficiaries will be rural producers and households in the Kosi River Basin who are regularly exposed to floods.
- This includes farmers who lost their agricultural lands due to the silt deposits brought by the 2008 Kosi River Flood.
- It will also benefit farmers in the project area that are currently without access to irrigation and other technologies, improved agricultural practices and an adequate transport network.
- The project has five components:
(i) Improving Flood Risk Management.
(ii) Enhancing Agricultural Productivity and Competitiveness.
(iii) Augmenting Connectivity.
(iv) Contingent Emergency Response and
(v) Implementation Support.
- It is a loan for an implementation period of 5 years. Government of Bihar is the implementing agency.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=134661
http://www.worldbank.org/projects/P127725/bihar-flood-rehabilitation-phase-ii?lang=en