World Bank to give $250 m loan for Uttarakhand reconstruction

1/10/2014
  • Multi-lateral funding agency World Bank will provide $250 million loan to construct disaster resilient houses and roads in disaster-hit Uttarakhand. 
  • “The Government of India, the Government of Uttarakhand and the World Bank today signed a $250 million credit agreement for the Uttarakhand Disaster Recovery Project to support the State in its post disaster recovery plans as well as strengthen its capacity for disaster risk management,” World Bank said in a release.
  • The loan will help construct about 2,500 permanent disaster resilient houses and about 3,600 km of roads in Uttarakhand. 
  • A joint World Bank and Asian Development Bank team conducted a Rapid Damage and Needs Assessment (JRDNA) at the request of the Union Government to rebuild the State’s infrastructure and assets lost in the June 2013 disaster.
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