The Central government and the Asian Development Bank (ADB) on Thursday signed a $42 million loan to provide coastal and riverbank protection to increase resilience of local communities and natural ecosystems in Maharashtra.
The ADB financing will help restore and stabilise Maharashtra’s coastline and protect the livelihoods of coastal communities.
“The project builds on ADB’s earlier investment by incorporating hybrid approaches to combat coastal erosion, such as offshore reefs, rock protection works, along with flexible nature-based solutions like beach and dune nourishment,” said Mio Oka, Country Director of ADB’s India Resident Mission, for ADB.
“It also uses advanced technologies to predict climate change impacts, like sea-level rise and extreme weather, and enhances the coastal management information system with remote sensing satellite imagery, improving shoreline management,” Oka added.
Enhanced coastal protection will help boost community resilience addressing key issues affecting the tourism and fishery sectors, two vital local industries, that are severely impacted by coastal erosion, flooding, and poor coastal management.
Also, the project encourages increased participation of women, youth, and vulnerable groups in coastal zone management to enhance their ability to prepare for and respond effectively to disasters.
According to Ministry of Finance, ADB will help build the capacity of the Maharashtra Maritime Board in shore management planning, including the establishment of a coastal infrastructure management unit. The project will support capacity building of stakeholders on gender equality and social inclusion, coastal management, and livelihood activities.
Meanwhile, ADB will extend financial assistance of Rs 1,527 crore (USD 200 million) to speed up Phase II of the ongoing Nagpur Metro Rail Project.
A MoU to the effect was signed between MahaMetro and ADB in the presence of Chief Minister Devendra Fadnavis and other high-ranking officials from both sides this weel. Fadnavis said that Phase II of Nagpur Metro would further accelerate the development of Nagpur City and its surroundings.
