Kerala Seeks Rs 15,900 Cr From World Bank And ADB

September 28, 2018 10:44
Kerala Seeks Rs 15,900 Cr From World Bank And ADB

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Kerala Seeks Rs 15,900 Cr From World Bank And ADB:- South Indian state Kerala has been left devastated after heavy rains and floods shattered the state. All the states contributed their best and supported Kerala which is slowly recovering. The Kerala state Cabinet is in plans to seek monetary assistance from the global financial agencies to re-construct the state. A fund of Rs 15,900 crores will be asked from World Bank and Asian Development Bank (ADB) for rehabilitation. Chief Minister Pinarayi Vijayan revealed that the state government approached Centre for its permission to seek funds from World Bank and ADB.

World Bank and ADB representatives visited the state to assess the damages caused and the detailed report will be submitted for the Centre soon. The loan obtained will be used for construction of roads, drains, flood prevention projects and for bringing basic necessities like drinking water. Scientific analysis will be conducted to identify the affected areas. Pinarayi Vijayan announced a moratorium of one year for all loans including agricultural and educational loans in Kerala.

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Tagged Under :
Kerala  World Bank  Asian Development Bank