India and ADB sign $42 million loan for Maharashtra coastal protection project
The Government of India and the Asian Development Bank signed a $42 million loan on 19 December 2024 for coastal and riverbank protection in Maharashtra.
Summary
The Government of India and the Asian Development Bank (ADB) signed a $42 million loan on 19 December 2024 for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project. The loan will provide coastal and riverbank protection to increase the resilience of local communities and natural ecosystems in Maharashtra. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, signed for India and Mio Oka, Country Director of ADB's India Resident Mission, signed for ADB. The project uses hybrid approaches against coastal erosion, such as offshore reefs and rock protection works, along with nature-based solutions like beach and dune nourishment, and encourages participation of women, youth and vulnerable groups in coastal zone management.
Key facts
- Loan
- $42 million, signed 19 December 2024
- Project
- Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project
- Signatories
- Juhi Mukherjee (JS, DEA) for India; Mio Oka (Country Director, ADB India Resident Mission)
- Hybrid approaches
- Offshore reefs, rock protection works; beach and dune nourishment
- Inclusion
- Participation of women, youth and vulnerable groups in coastal zone management
Practice MCQs 3 questions
India and the ADB signed a $42 million loan on 19 December 2024 for a coastal protection project in which state?
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Correct answer: B — Maharashtra
PIB (Finance): the $42 million loan is for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project.
What was the amount of the ADB loan signed for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project in December 2024?
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Correct answer: D — $42 million
PIB (Finance): the Government of India and ADB signed a $42 million loan for the project on 19 December 2024.
Which of the following is described by ADB as a flexible nature-based solution against coastal erosion under the Maharashtra coastal protection project?
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Correct answer: A — Beach and dune nourishment
PIB (Finance): ADB's Mio Oka said the project uses hybrid approaches such as offshore reefs and rock protection works, along with flexible nature-based solutions like beach and dune nourishment.