Jakarta. The World Bank has approved $125 million in financing to support the government's project aimed at upgrading dams across the country, which will have an impact on about 11 million people living around the sites.

The second phase of the Dam Operational Improvement and Safety Project (DOISP) is set for July 1-Dec. 31, 2022.

"The World Bank's continued partnership with Indonesia to improve dam safety will protect millions of Indonesians residing around the dams," World Bank country director for Indonesia Rodrigo Chaves said in a statement on Tuesday (28/02).

According to the statement, the Asian Infrastructure Investment Bank (AIIB) will co-finance the project with an additional $125 million, while the Indonesian government allocate to it $50 million.

"The rehabilitation and upgrades of dam facilities and improvement of dam operation and safety management are essential to enhance water security, reduce risks and increase the use of the limited water resources," said Marcus Wishart, a senior water resources management specialist at the World Bank.

This is the second project in Indonesia co-financed by the Washington-based multilateral lender and the AIIB. In July last year, the banks supported the National Slum Upgrading Project.

According to the Public Works and Housing Ministry's medium term strategic plan, locally known as renstra, the government seeks to build 65 new dams across the country and renovate 46 existing ones by 2019.