Union govt completes formalities for funding 'DRIP'

Formalities completed with World Bank for funding Dam Rehabilitation and Improvement Project

The Union Government has completed the formalities with the World Bank for funding of the Phase II and III of the Dam Rehabilitation and Improvement Project (DRIP).

In effect, this raises hopes of the project’s implementation kicking in sometime in the coming summer.

The formalities with the Asian Infrastructure Investment Bank (AIIB), which will co-fund the project, will be completed soon, allowing for the rollout of the funds.

The funding period of the two international institutions will be ten years.[Readmore]