General Knowledge

Which of the following global financial institution provides financial support for Dam rehabilitation and Improvement Project (DRIP)?

September 21, 2018

Which of the following global financial institution provides financial support for Dam rehabilitation and Improvement Project (DRIP)?
1. AIIB
2. ADB
3. World Bank
4. IMF

Answer : 3. World Bank

Explanation :
On September 19, the Cabinet Committee on Economic Affairs (CCEA) has approved Revised Cost Estimate (RCE) of Dam rehabilitation and Improvement Project (DRIP) at the revised cost of Rs 3466 crore with the financial assistance of the World Bank to improve safety and operational performance of 198 Dams. The project aims at comprehensive rehabilitation of 198 existing dam projects located in 7 states of India viz. Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Karnataka, Jharkhand and Uttarakhand. It also aims to ensure safety of downstream population and property that are affected in the case of a dam failure or operational failure. Out of Rs.3,466 crore, Rs.2,628 crore will be funded by the World Bank and Rs.747 crore will be funded by DRIP States / Implementing Agencies (IAs) and balance Rs.91 crore to be funded by Central Water Commission (CWC). The CCEA also gave its ex-post facto approval for two-year time extension from 1st July, 2018 to 30th June, 2020.

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