Government of India, West Bengal Government and the Asian Infrastructure Investment Bank, AIIB today signed a loan agreement for a 145 million dollar project to improve irrigation services and flood management in the Damodar Valley Command Area in West Bengal.<br />''<br />'' Finance Ministry said, the West Bengal Major Irrigation and Flood Management Project will benefit about 27 lakh farmers from five districts of the state with better irrigation services and improved protection against annual flooding.<br />''<br />''The agreement was signed by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs and Rajat Misra, Director General on behalf of the AIIB.<br />''<br />''Mr Khare said, India is adopting a strategic growth path that uses and manages its water resources more efficiently. He said, this project will assist in improving irrigation and agriculture in the Damodar Valley Command Area, by optimizing the use of surface and groundwater. It will also strengthen flood management, which will help boost agricultural productivity and increase incomes in rural areas. The total value of the project is over 413 million dollars.<br />