World Bank Approves USD125 million financial support for Kerala

The World Bank Board of Executive Directors has approved a $125 million support for the ‘Resilient Kerala Program’ to help the state in preparedness against natural disasters, climate change impacts, disease outbreaks, and pandemics. The $125 million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14 years including a grace period of six years. 

The heavy monsoons of 2018 were the worst Kerala had seen in nearly a century, triggering devastating floods and landslides. It impacted more than 5 million people, mainly in the Pamba River Basin.

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The Resilient Kerala Program will focus on two key areas. 

• First, it will incorporate disaster risk planning in the master plans of urban and local self-governments to ease financial constraints on the state government when faced with unexpected shocks.
• Second, it will help make the health, water resources management, agriculture, and road sectors more resilient to calamities.

Important takeaways for all competitive exams:

• Kerala CM: Pinarayi Vijayan.
• Kerala Governor: Arif Mohammad Khan.
• World Bank Headquarters: Washington, D.C., United States.
• World Bank Formation: July 1944.
• World Bank President: David Malpass.

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