World Bank approved $250 million aid for Uttarakhand
The World Bank approved financial aissistance of $250 million for Uttarakhand, in the wake of rains and landslides that wreaked havoc in the state in June 2013. The fund would be used to help the state undertake rehabilitation work and improve its capacity for disaster management.
India had asked for assistance from multi-lateral organizations like the World Bank and the Asian Development Bank (ADB) for undertaking rehabilitation work in Uttarakhand.
Prior to this, a joint World Bank and ADB team conducted a Joint Rapid Damage and Needs Assessment (JRDNA) to rebuild Uttarakahnd’s infrastructure damaged in the calamity. As per JRDNA estimate, the total reconstruction work to repair physical damages and infrastructure loss was calculated at about $661 million.
Categories: International Current Affairs