In March 2023, which bank approved a loan of US$108 million (₹8,89,65,17,496) for the Assam Integrated River Basin Management Project (AIRBMP) to improve Assam's disaster preparedness and enhance flood forecasting?

The correct answer is World Bank . In News World Bank approves a $108 million loan for Assam's flood management project . Key Points The World Bank has given the nod to provide a loan of $108 million to assist Assam in its efforts to improve its disaster preparedness and enhance flood forecasting . Part of a bigger investment initiative worth $500 million for the state, the multilateral bank has estimated that this project will benefit about six million people . The primary goal of the Assam Integrated River Basin Management Project is to construct environmentally friendly infrastructure in the basins of the Beki and Buridehing rivers in order to mitigate the effects of floods and river erosion on the state and, eventually, protect around one lakh people . By constructing green infrastructure in the Beki and Buridehing river basins , the Assam Integrated River Basin Management Project will assist the state in lessening its susceptibility to floods and river erosion , safeguarding about 100,000 people . Through more precise early warning systems , such as smartphone notifications, and better flood predictions, the project will also support the state's ability to respond to disasters. At least 10,000 individuals will have access to better shelter and evacuation options, including flood shelters that are robust to climate change. With updated state and district emergency operations centers, the initiative will also enable government organizations to react to emergencies more quickly. Additional Information World Bank : International financial institution that provides loans and grants to the governments of low- and middle-income countries. Aims to reduce poverty and support development projects in areas such as education, healthcare, infrastructure, and agriculture . It is composed of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) . Provides technical assistance and policy advice to help countries implement development projects and improve their economic and social conditions. Headquarters located in Washington, D.C. , with offices around the world. Governed by a Board of Governors and a Board of Executive Directors , representing member countries. Focuses on promoting sustainable development, environmental protection, and inclusive growth . It has been criticized for its policies and practices, including concerns about environmental impact and social inequality .