IFC to Fund Indian Water Projects

The International Finance Corporation, a member of the World Bank, is to invest $150m in water management and water treatment projects in India over the next three years.

The funds will be used for key projects such as improving the efficiency of water usage in agriculture, industrial water and its reuse, and urban water projects, according to The Economic Times.

Decentralised water distribution will also be developed for rural areas by financing small water treatment plants.

IFC’s South Asia head for water Bastiaan Mohrmann said that India needs to address its growing water challenges, and that the private sector has an important role in sustaining its robust economic growth.

“Over the next two to three years, we expect a significant increase in private sector water investments in India,” said Mohrmann.