India Inks Deal With World Bank For AP Disaster Recovery ProjectBusiness News

July 17, 2015 13:38

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India has entered into a $250-million loan pact with World Bank for Andhra Pradesh Disaster Recovery project. This pact is intended to provide financial assistance to the state of AP and to enhance its capability to respond precisely at the time of crisis.

Selva Kumar, Acting Joint Secretary, Department of Economic Affairs, Ministry of Finance, Government of India; J C Sharma, Principal Secretary, Revenue Department, (Land and Disaster Management), the Government of Andhra Pradesh; and Onno Ruhl, Country Director, World Bank (India) signed the financing deal to support the AP Disaster Recovery project.

A World bank issued release said, "The objective of the project is to restore, improve and enhance resilience of public services, environmental facilities, and livelihoods in targeted communities of Andhra Pradesh, and increase the capacity of the state to respond promptly and effectively to an eligible crisis or emergency.”

Features of AP Disaster Recovery project

Featuring various components, AP Disaster Recovery project is designed to offer both indirect and direct benefits to Andhra Pradesh. The people belonging to the affected coastal areas, particularly from Srikakulam, Vizianagaram, Visakhapatnam and East Godavari districts will be benefited under the project. These areas have an estimated population of 13.3 million.

Seven components of the AP Disaster Recovery project feature restoration of connectivity and shelter infrastructure, resilient electrical network, restoration of environmental services and facilities, restoration and protection of beach front and livelihood support. Additional components of the AP Disaster Recovery project include technical support for disaster risk management, capacity building project implementation support and contingency emergency response.


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