Kerala Govt to take 15,900 crore loan to rebuild Kerala

The government has laid out some crucial steps towards the rebuilding of Kerala. The cabinet has decided to take loan of Rs 15,900 crore from World Bank, ADB, other agencies, domestic- financial institutions and banks for the reconstruction of Kerala.

Chief Minister’s office informed that the amount will be utilized for rebuilding roads, public institutions, health sector, public utilities, water supply, flood control, irrigation, coastal conservation, rehabilitation of coastal areas and environmental protection. A proposal of Rs 15,882 crore has been approved.

The government had approached the Union Ministry of Finance for approval for taking loans from World Bank, ADB and other agencies. Following a notification from the ministry, World Bank and ADB organized a Rapid Damage Assessment and Needs Analysis in the state from September 12 to 20. A draft report of RDNA was submitted.

World Bank-ADB team will submit the final report in the first week of October. RDNA has reported a loss of Rs 25,050 crore. However, the losses are likely to be higher than that if we consider the impact of floods on industry and commerce, it said.

Likewise, the loss of livelihood and employment are also immense. RDNA’s focus was on infrastructure losses. A detailed Post-Disaster Needs Assessment (PDNA) by UN agencies will give a better picture about the loss of livelihood and social impact due to the floods, CM’s office further noted.

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