AIIB to boost water projects amid India's El Nino drought
India is dealing with its toughest drought in years, thanks to El Nino and weak monsoons.
The Asian Infrastructure Investment Bank (AIIB) plans to ramp up support for water projects, something that's been a low priority until now, with less than 7% of its $13.8 billion investment in India going to water since 2016.
This new push aims to help states like Maharashtra and Karnataka manage the ongoing water crisis.
AIIB loans support irrigation wastewater reuse
AIIB is rolling out loans for big upgrades: think automated shut-off mechanisms for solar irrigation pumps and better water management systems.
There's a joint study potential here: studies show $35 billion could go into reusing treated wastewater, and $118 billion into micro-irrigation tech.
Plus, AIIB wants more private investors on board, especially in urban utilities using smart meters, since agriculture alone uses about 80% of India's freshwater.