Asian Development Bank clears $182 million loan for Assam flood management

New Delhi: The Asian Development Bank (ADB) on Tuesday said it has cleared $182 million in additional financing to bolster Assam's resilience to severe flooding and riverbank erosion along the Brahmaputra river.

The funding comes on top of the ongoing $200 million Climate Resilient Brahmaputra Integrated Flood and Riverbank Erosion Risk Management Project in Assam, which was approved by the multilateral lender in October 2023.

"The project introduced a holistic, risk-informed approach to tackling longstanding flood and erosion problems that have contributed to rural poverty, loss of livelihoods, and recurring displacement across the state," ADB said in a statement.