India and ADB Sign $375 Million Loan to Improve Irrigation Efficiency in Madhya Pradesh

The government of India and the Asian Development Bank (ADB) signed a $375 million loan agreement to contribute to double farming incomes in Madhya Pradesh by expanding irrigation networks and system efficiency.

The Madhya Pradesh Irrigation Efficiency Improvement Project will develop 125,000 hectares of new, highly efficient and climate resilient irrigation networks and improve water use efficiency in more than 400 villages, benefiting over 800,000 people in Madhya Pradesh. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • The Asian Development Bank is a regional development Bank established in 1966.
  • Headquarters of ADB is in Manila, Philippines.
  • Takehiko Nakao is Present President of the Asian Development Bank.