Current Affairs PDF Sales

India inks $250-million loan pact with World Bank for Andhra Pradesh Disaster Recovery project

AffairsCloud YouTube Channel - Click Here

India and World Bank have signed a $250 million credit agreement for the Andhra Pradesh Disaster Recovery Project. It is a loan for an implementation period of 5 years which will be implemented by the Government of Andhra Pradesh.

Key points about the project:

  • This project will help to restore, improve and enhance the resilience of public services and livelihoods of communities affected by cyclone Hudhud in Andhra Pradesh.
  • It will also increase the capacity of the state to respond promptly and effectively to an emergency.
  • The project will specifically benefit over 13 million people in the four severely affected districts of Srikakulam, Vizianagaram, Visakhapatnam and East Godavari.
  • Through this project the state will restore the damages caused to roads, public infrastructure including environmental services and facilities and increase the resilience of the power infrastructure as well as that of its communities from impacts of future disasters.
  • The Project will also help reconstruct the severely damaged zoological park at Visakhapatnam and ecological park at Kambalakonda.
  • It will help in restoring the lost shelterbelts, windbreaks and mangroves along the coast and support livelihoods opportunities of poor vulnerable coastal families by building nurseries that would supply saplings for farm forestry.

The project will have seven components which are:

  1. Resilient electrical network.
  2. Restoration of connectivity and shelter infrastructure.
  3. Restoration and protection of beach front.
  4. Restoration of environmental services and facilities and livelihood support.
  5. Capacity building and technical support for disaster risk management.
  6. Project implementation support.
  7. Contingency Emergency Response.