Financial Assistance by World Bank

29 June 2021 Current Affairs:The Board of Executive Directors from the World Bank  has accepted a $125 million support for the ‘Resilient Kerala Program’ to assist the country in preparedness in opposition to herbal disasters, local weather exchange impacts, disease outbreaks, and pandemics. The $125 million mortgage from the International Bank for Reconstruction and Development (IBRD) has a remaining maturity of 14 years which include a grace duration of six years.

Highlights:
♦ The heavy monsoons of 2018 have been the worst Kerala had seen in nearly a century, triggering devastating floods and landslides. It impacted more than 5 million people, frequently in the Pamba River Basin.
The Resilient Program will focus on two key areas: 1st, It will incorporate disaster threat planning in the grasp plans of city and local self-governments to ease economic constraints on the country government when faced with surprising shocks. 2nd, It will help make the health, water sources management, agriculture, and road sectors more resilient to calamities.
 

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