Categories: State News

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.

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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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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.