India and ADB Signed $42 Million Loan For Coastal Protection in Maharashtra

On December 19, 2024, the Government of India and the Asian Development Bank (ADB) signed a $42 million loan agreement aimed at providing coastal and riverbank protection in Maharashtra. This initiative seeks to enhance the resilience of local communities and ecosystems in the state.

Key Signatories to the Loan Agreement

The loan agreement for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project was signed by:

• Ms Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, representing the Government of India.
• Ms Mio Oka, Country Director of ADB’s India Resident Mission, representing ADB.

Ms Juhi Mukherjee emphasised that the ADB funding will assist in restoring and stabilizing Maharashtra’s coastline, thereby protecting the livelihoods of the coastal communities.

Hybrid Approaches to Combat Coastal Erosion

Ms Mio Oka stated that the project builds upon ADB’s previous investments by integrating hybrid methods to address coastal erosion. These include offshore reefs, rock protection works, and nature-based solutions such as beach and dune nourishment. The project also incorporates advanced technologies to predict the impacts of climate change, including sea-level rise and extreme weather and improves the coastal management information system with remote sensing satellite imagery for better shoreline monitoring.

Strengthening Community Resilience

The enhanced coastal protection is designed to improve community resilience by addressing critical issues impacting the tourism and fishery sectors. These sectors are severely affected by coastal erosion, flooding, and poor coastal management. Additionally, the project encourages the involvement of women, youth, and vulnerable groups in coastal zone management to help them better prepare for and respond to disasters.

Capacity Building For Maharashtra Maritime Board

ADB will assist in building the capacity of the Maharashtra Maritime Board in shore management planning. This includes the establishment of a coastal infrastructure management unit to better manage the state’s coastal resources. The project will also focus on capacity building for stakeholders in areas such as gender equality, social inclusion, coastal management, and livelihood activities, ensuring a comprehensive and inclusive approach to coastal protection and resilience.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.