The Asian Development Bank (ADB) and the Government of India signed a $65.5 million loan agreement yesterday here in the national capital to continue interventions to check coastal erosion on the Western Coast in Karnataka. The loan is the Second Tranche of a $250 million financing facility under the Sustainable Coastal Protection and Management Investment Program. The financing will be used to address the immediate coastal protection needs and for strengthening institutional capacity of Karnataka’s Public Works, Ports and Inland Water Transport Department. Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance, Govt of India signed the Loan Agreement on behalf of the Government of India, and Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission, signed for ADB. A separate Project Agreement was signed by M. Lakshminarayana, Additional Chief Secretary on behalf of the Government of State of Karnataka. After signing the loan agr...