NDB agrees loan for Indira Gandhi Canal improvements

The BRICS New Development Bank (NDB) has agreed a $100 million loan to finance the Rajasthan Water Sector Restructuring Project for the Desert Areas in India. It is the first tranche loan approved by the NDB under the Multi Tranche Financing Facility of $345 million for this project. The aim is to rehabilitate the 678km long Indira Gandhi Canal system built during 1958-63.