India, UK ink partnership to develop water sector
India and the United Kingdom have formed a partnership for the joint development of the water sector. At a recent virtual water partnership meeting, both countries had discussed ways to work together on issues pertaining to building better water infrastructure and conservation of the resource.
The virtual meeting saw participation from over 100 business leaders from both countries and a business leaders’ dialogue with National Mission for Clean Ganga (NMCG) Director General Rajiv Ranjan Mishra.
“India’s partnership with the UK will bring significant benefits including knowhow and capital. There have been a number of dialogues between the two nations to develop financial vehicles such as Ganga bonds, specialist technology demonstration funds and most importantly project finance pools,” Mishra said.
As part of the partnership, an agreement for collaboration has been signed between Centre for Ganga River Basin Management and Studies (cGanga) and British Water.
India will launch an exhibition on water and Namami Gange that will travel across the UK next year and end at the COP 26 meeting in Glasgow in November 2021, an official statement said.
“UK can help India develop many cutting edge instruments such as Water bonds, credit enhancement instruments and specialist insurance which will all be very useful for the hundreds of billions needed in the construction of India’s water sector”, said Ben Crackett, head of global export and investment, City of London Corporation.
