DEHRADUN: The World Bank, Government of India (GoI) and Government of Uttarakhand (GoUK) signed a $96 million Loan Agreement on March 5, 2019 to provide additional funds to Uttarakhand in its post disaster recovery plans which are ongoing since the floods of 2013. The funds will also be utilised to strengthen state’s capacity for disaster risk management.
Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance signed the Loan Agreement on behalf of the GoI, Amit Negi, Secretary, Finance and Disaster Management, GoUK and Program Director, Uttarakhand Disaster Recovery Project signed on behalf of the GoUK and Hisham Abdo, Acting Country Director, World Bank India signed on behalf of the World Bank.
The financing will help in reconstruction of bridges, road and river bank protection works, and in the construction of a training facility for the State Disaster Response Force (SDRF). The project will help to increase the technical capacity of Himachal Pradesh entities to respond more effectively to such crises in future. The loan has a grace period of five years and a final maturity of 15 years.
The World Bank has been supporting the Uttarakhand government since 2014 through the Uttarakhand Disaster Recovery Project to restore housing and rural connectivity, and to build resilience of communities. The project has completed more than 2,000 permanent houses and 23 public buildings and restored over 1,300 kilometers of roads and 16 bridges.