World Bank to sanction $250 million for ‘Resilient Kerala’ project

NEW DELHI: The World Bank on July 15, announced to offer a loan of $250 million to the Government of Kerala for the ‘Resilient Kerala’ project. The project aimed at enhancing the state’s resilience against the impacts of natural disasters and climate change in the wake of last year’s floods.

The World Bank made the announcement during ‘Rebuild Kerala: Development partners’ conclave’, a meeting of various funding agencies for rebuilding flood-ravaged Kerala.

Junaid Ahamed, Country Director, World Bank, said that the programme, which represents the first ‘state partnership’ of the World Bank in India, is the first of two Development Policy Operations aiming to mainstream disaster and climate resilience into critical infrastructure and services.

Last year, the Government of Kerala have invested in institutions and development programmes to build resilient Kerala after it got hit by the unexpected floods and it aims to protect the lives of residents of state at times of climatic uncertainty, Ahamed added.

The World Bank is supporting Kerala through a mechanism of state partnership in priority areas such as transport, livelihood, and urban planning.