India signs Financing Agreement with World Bank for NCRMP Projects
On 11 August 2015 Government of India and the World Bank signed the Financing Agreement for the assistance of National Cyclone Risk Mitigation Project- I & II (NCRMP- I & II) for $ 104.00 Million and $ 308.40 Million respectively.
The two separate financing agreements were signed for NCRMP- I & II under a common objective for coastal states to mitigate vulnerability to the cyclone and hazards prone coastal communities.
NCRMP-I covers States of Andhra Pradesh and Odisha.
NCRMP-II covers States of Gujarat, Maharashtra, Goa, Karnataka, Kerala, and West Bengal
The agreement for the project with respect to these state were signed by the representatives of the respective State Governments.
Objective of NCRMP-I&II
It proposes to reduce vulnerability to cyclone and other hydro-meteorological hazards of coastal communities in the respective States through;
- Establishing Early Warning Dissemination System (EWDS) and Capacity building for coastal communities.
- By increasing the capacity of the State entities to effectively plan for and respond to disasters.
- Establishing Cyclone Risk Mitigation Infrastructure and early warning systems benefitting coastal communities in the target states.
- Financing technical assistance for strengthening of multi-hazard risk management at the national level.
- Supporting Project Management and Implementation of project.
Implementation: The project is implemented by the Ministry of Home Affairs through National Disaster Management Authority (NDMA) and executed by the respective State Disaster Management Authorities at the State level.
Categories: Business & Economy Current Affairs 2018