World Bank loan of USD 250 million for Resilent programme

Marking its first 'state partnership' in India, the World Bank will extend a USD 250 million loan for the Resilent Programme in Kerala, which had been devastated by worst floods in a century last August.

The Centre, state government and the World Bank had last month signed the loan agreement of US

250 million for the programme, which aims at enhancing the state's resilence against the impacts of natural calamities and climate change.

"We have agreed on a programme of 500 million Dollars, which has been endorsed by the Government of India, of which the first tranche is 250 million dollars development programme loan", Junaid Ahmad, Country Director, World Bank India, told reporters.

The Resilent Programme focuses on strengthening the state's institutional and financial capacity to protect the assets and livelihoods of poor and vulnerable groups through an inclusive and participatory approach, a World Bank press release said.

The worst deluge in 100 years had devastated the southern state, claiming 400 lives and destroying homes.

One sixth of the state's population - about 5.4 million - were affected, while 1.4 million were displaced from their homes, especially the poor and vulnerable sections of society.

The World Bank has been working closely with the Central and Kerala governments since the August floods in assessing its impact and assisting in recovery and reconstruction.