AIIB agrees $145m irrigation, $65m solar projects in India
The Asian Infrastructure Investment Bank has approved a $145 million loan to India to improve irrigation service delivery and strengthen flood risk management in West Bengal.
The project, cofinanced with the World Bank, is expected to strengthen the management of the Damodar Valley Command Area irrigation scheme to improve service delivery and efficiency. The funds will also be used to modernize irrigation infrastructure at main, branch, distributary and minor canal levels and invest in structural measures to reduce flooding in the project area.
AIIB President Jin Liqun also approved a $65 million 250MW solar power project in Jodhpur, the second largest city in the northwestern Rajasthan state.
Hero Future Energies, an independent power producer, is developing the project via its special purpose vehicle Clean Solar Power (Jodhpur) Private Limited. The project will add 250MW of solar capacity and result in clean energy generation of 616 MWh in 2022.
