Current Affairs Exam

World Banks lending arm, theInternational Bank for Reconstruction and Development (IBRD)will provide financial support of USD 115 million to this project. The loan has a 15 years maturity period with 4.5 years grace period.

Karnataka will receive USD 60 million, Odisha will receive USD 49 million while the remaining USD 6 million will be utilized by the Indian governments Department of Land Resources.

To improve water and land conservations as well as preventing run-off, harvesting rainwater, regenerating natural vegetation, and replenishing the groundwater table.

The project also aims to improve the capacities of the state and the central institutions so that they can develop and deliver better Watershed Management and development programs.

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