India

World Bank Willing to Provide $500 Million Aid for Rebuilding Kerala

World Bank says that the support is subject to formal request from the Central government and will have to be approved by the World Bank Board of Governors.

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The World Bank has offered a financial aid of $500 Million for the flood ravaged Indian state of Kerala for rebuilding its infrastructure.
The support is subject to the Union government’s formal request and will have to be approved by the World Bank Board of Governors, according to a release by the World Bank.
However, as an immediate step, the bank said it is ready to reallocate up to $55 million from its current portfolio of projects in India to support the state’s reconstruction.

Kerala Chief Minister Pinarayi Vijayan had talks with World Bank officials on Oct.16, where the world body offered its support in rebuilding the state. The Joint Rapid Damage and Needs Assessment (JRDNA) report was presented to the Chief Minister and other ministers in this meeting, the Hindu reported.
The JRDNA was conducted in Sept. 2018 jointly by the Government of Kerala (GoK), the World Bank, and the Asian Development Bank (ADB). It is estimated that Rs 25,000 crores is needed for the rebuilding the state and this estimate involves priority sectors alone. The sectors, which suffered most damage due to flood are transport, rural infrastructure, livelihoods, including tourism, housing and urban infrastructure. These sectors need big budgets for recovery.

Commenting on the assistance, Junaid Ahmad, World Bank Country Director in India, said, “Disasters, like the one we witnessed in Kerala, can roll back decades of development and are a fundamental threat to economic development and the fight against poverty. The World Bank stands committed to support Chief Minister Vijayan’s vision of converting this tragedy – one of the biggest that the state has seen – into an opportunity to build a more resilient Kerala for its people.”

“The framework we have prepared in consultation with the Government of Kerala will help the state with early recovery needs restoring the infrastructure and livelihoods. A very important part of our engagement will be to support the work of state institutions and build on the state-community relationships that exist in Kerala.” Ahmad added.

According to the World Bank, the proposed recovery and resilience framework will follow a phased approach. These engagements will cover a range of affected sectors such as water resources, transport, social protection, environment, disaster risk management, etc.
Kerala suffered devastating floods in August this year, which left hundreds of people dead and ruined the infrastructure of the state, known for its tourism.

1 Comment

  1. Vikram Nair

    October 20, 2018 at 12:00 am

    Is this to be paid back? If so, who will pay it back? Vijayan will not be CM when it is time to pay back the money. Even if he is, he will ask the Center to pay it. Kerala has no money. The Government is already steeling every penny they can get from the temples anyway.

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