ADB has approved a loan of USD 42 million for the coastal protection ecosystem in Maharashtra.
Banking & Finance
The Asian Development Bank (ADB) has approved a loan of USD 42 million to improve coastal and riverbank protection ecosystems in Maharashtra, which will help strengthen the resilience of local communities and their natural environments.
- The Maharashtra Sustainable Climate-Resilient Coastal Protection Project will address coastal erosion by creating offshore reefs, installing sheet piles, nourishing beaches, and planting vegetation to stabilize the coastline.
- This project builds on the ADB-financed Sustainable Coastal Protection and Management Investment Program.
Main Points:- (i) The project aims to boost fisheries and tourism while also promoting capacity building for stakeholders regarding gender equality and social inclusion.
(ii) ADB will assist the Maharashtra Maritime Board in enhancing its capacity for shore management planning, which includes establishing a coastal infrastructure management unit.
President: Masatsugu Asakawa
Headquarters: Mandaluyong, Philippines
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