New Development Bank (NDB) has given in principle approval for the 1st phase of the water supply scheme of Himachal Pradesh of Rs. 698 crore.

The project envisages augmentation of water supply schemes in partially covered habitations in the State to provide 70 litres water per day per head.

State government spokesman said that a Tripartite Portfolio Review Meeting (TPRM) in this regard was held yesterday for consideration of Himachal Pradesh Water Sector Project proposed under New Development Bank (NDB) funding.

He said that the meeting was attended through video conference by officers of Department of Economic Affairs, Ministry of Finance, New Development Bank officers and officers of Jal Shakti Vibhag.

The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa).