World Bank, ADB aid for Government Of Odisha : The World Bank and Asian Development Bank have come to the rescue of the Odisha government, which is facing a financial crunch to carry out restoration and relief work in the cyclone and flood-ravaged areas of the state. Both the banks will give assistance to the tune of $313 million. The World Bank will give $208 million, while the Asian Development Bank (ADB) will provide $105 million. A team of World Bank and ADB officials today met chief minister Naveen Patnaik and discussed the relief measures being carried out by the government. Additional chief secretary-cum-finance secretary U.N. Behera said: “A part of the funds will come in the form of soft loan, while the remaining component will be assistance. The details of fund pattern is being decided upon and the state hopes to get the money in two to three months’ time.” From the World Bank’s assistance, $55 million will be spent for construction of 162 cyclone shelters in Puri and Ganjam districts. The remaining $153 million will be spent for rehabilitation of slum dwellers in Berhampur and rehabilitation of the people affected by Phailin in Chilika. The assistance will also be utilised for the integrated coastal zone management scheme, particularly in regenerating mangrove forests in the affected areas. “The funds coming for construction of cyclone centres will come mostly in the form of grants,” said Behera. Of the contribution being made by the Asian Development Bank, $35 million will be spent on strengthening river and saline embankments.
Posted on: Sun, 17 Nov 2013 01:34:38 +0000
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