The Government of India and the Asian Development Bank (ADB) signed a USD 42 million loan to protect coastal and riverbanks in the state of Maharashtra, according to news agency ANI. The goal is to increase the resilience of local communities and natural ecosystems.

The Ministry of Finance, in an official statement on Thursday, stated that Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Mio Oka, Country Director of ADB's India Resident Mission, for ADB, were the signatories to the loan agreement for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project.