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Loan and Grant
$50 million ADB loan for Meghalaya’s Water Harvesting Project
Utkarsh Classes
Updated: 06 Dec 2024
3 Min Read
Asian Development Bank (ADB) has agreed to provide a $50 million loan to finance the setting up of a water harvesting system in Meghalaya and enhance water security in the state. An agreement for this purpose was signed between India's government and the ADB representative in New Delhi on 5 December 2024.
The loan agreement was signed by Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance and Mio Oka, Country Director of ADB's India Resident Mission.
The Meghalaya government will use the loan amount to finance the state's Climate-Adaptative Community-Based Water Harvesting Project.
Meghalaya is one of the wettest places in India, and it annually receives around 3979.3 mm of rainfall.
Mawsynram, the wettest place in India and the world, is also located within the state.
However, the maximum rainfall is received during the Monsoon period (June-September).
Due to Meghalaya's hilly and mountainous terrain, most of the water during rainfall flows down the slopes and into the plain area, creating a water shortage in the non-rainy season.
Climate change has also affected the monsoon season, and the frequency of rain has become erratic.
To mitigate the water shortage problem, the government has launched a project to construct a water harvesting system in association with the central government’s Catch the Rain campaign.
The whole project is community-driven, with participation from the local public.
Also Read: PM Modi virtually launches Jal Sanchay Jan Bhagidari initiative
Asian Development is a regional multilateral development bank focused on the Asia Pacific region.
It provides loans and consultancy services to its member countries on poverty alleviation and development projects.
Members- 69 countries
Headquarters: Mandaluyong City, Metro Manila, Philippines
President: Masatsugu Asakawa
President Elect: Masato Kanda
Also, read Masato Kanda was elected as the 11th President of ADB
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