Latest news with #OdishaIntegratedIrrigationProjectforClimateResilientAgriculture
New Indian Express
07-06-2025
- Business
- New Indian Express
Climate adaptation investments yielding 10-fold returns
CHENNAI: As climate hazards like floods and wildfires intensify and global financial resources tighten, a latest study by the World Resources Institute (WRI) provides evidence that climate adaptation investments generate value. A first-of-its-kind Adaptation Triple Dividend of Resilience (AdapTDR) database analyses 320 projects across 12 countries from 2006 to 2024, with a purse of USD 133 billion, finding that each dollar invested yields 10.4 dollars in benefits over 10 years, with total returns exceeding USD 1.4 trillion and an average economic internal rate of return (EIRR) of 27 per cent. India, with 39 projects averaging USD 588.28 million each, contributes significantly to this dataset, demonstrating returns in agriculture, water, and infrastructure sectors. The study's methodology evaluated projects approved by multilateral development banks (MDBs) and other development finance institutions (DFIs), focusing on agriculture, health, infrastructure, and water. Data collection sourced public project appraisal documents (PADs) from the World Bank, Asian Development Bank (ADB), and Green Climate Fund. The AdapTDR database captures objectives, costs, benefits, net present values (NPVs), and EIRRs, using cost-benefit analysis (CBA) and the triple dividend framework, which measures avoided losses, induced economic benefits, and social-environmental benefits. The sample includes 12 countries — Bangladesh, Brazil, China, Colombia, Ethiopia, Ghana, India, Kenya, Senegal, South Africa, Uzbekistan, and Vietnam — representing 48 pc of the global population. In India, the Odisha Integrated Irrigation Project for Climate Resilient Agriculture, costing USD 235.54 million, with benefits expected to spread over 26 years operates over 26 years, enhancing agricultural intensification and diversification. Its economic net present value (ENPV) ranges from USD 132 million to USD 241 million, with an EIRR of between 10.8 pc and 14.2 pc. The project reaches 72 pc of beneficiaries through improved water management and climate-smart practices, reducing greenhouse gas (GHG) emissions, as per the World Bank.
New Indian Express
28-04-2025
- Business
- New Indian Express
Low spend hits externally-aided projects in Odisha
BHUBANESWAR: Even as the left bank canal of Rengali irrigation project has been dragging on for years due to land acquisition and forest land conversion issues, several other externally-aided irrigation projects without such problems seem to have fared no better. Low expenditure of the annual plan outlay has revealed the laggardness in execution of the projects. One prime example is the Odisha Integrated Irrigation Project for Climate Resilient Agriculture (OIIPCRA) programme, a tank-based project assisted by World Bank to improve irrigation efficiency and strengthen climate resilience agriculture. The estimated cost of the project, which commenced from December 2019, was about Rs 1,680 crore with completion target of six years, by December 2025. The state government had made a budgetary provision of Rs 380 crore in 2024-25 for the project even as the Water Resources department had an unspent balance of Rs 225 crore. However, the total expenditure till the end of March this year was Rs 155 crore which comes to around 41 per cent. The project aims at demonstrating climate-smart agriculture in about 56,400 ha of command area under 538 minor irrigation projects (MIPs) and about 70,000 ha of rainfed area for augmenting the capacity and income of farmers in 15 districts. The Water Resources department selected 537 tanks in the districts for rehabilitation and stabilisation of irrigation over 91,435 ha to improve crop productivity and insulating farmers from climate change. According to progress report of the department, rehabilitation and stabilisation of 157 water tanks have been completed while 189 more are under progress. While tenders for 51 tank projects are under evaluation, another 19 are under process. The total value of these contracts amounts to Rs 142 crore. With only eight months left, the total expenditure under the OIIPCRA projects till February was Rs 663.4 crore, which is 39 per cent of the total cost. While the cost of the Rengali left bank canal project has been revised many times, the department has so far utilised Rs 1,306 crore out of the revised cost of Rs 3,063.67 crore. The plan outlay for the last financial year was Rs 160.5 crore out of which Rs 101.3 crore was spent till February creating irrigation potential for over 17,000 ha out of the planned 39,416 ha. Similarly, the expenditure on the Dam Rehabilitation and Improvement Project (DRIP) was only Rs 1.33 crore out of Rs 15 crore outlay.
