The Kerala government has decided to raise Rs. 15,900 crore as loan from the World Bank, Asian Development Bank, and other funding agencies to rebuild the prime sectors of the state devastated by the unprecedented flooding.
This amount will be utilized for rebuilding roads, public institutions, health sector, public utilities, water supply, flood control, irrigation, coastal conservation, rehabilitation of coastal areas and environmental protection. A proposal of Rs 15,882 Crore has been approved.
— CMO Kerala (@CMOKerala) September 27, 2018
The state government had approached the Union Ministry of Finance for approval for taking loans from World Bank, ADB and other agencies.
CM Pinarayi Vijayan has directed officials to develop a livelihood development package for the flood-affected. The package, to be formulated by the Planning Board, will strive to restore the livelihoods of weaker sections including that of SCs and STs. CM informed that the State will leverage the potential of new technologies in rebuilding efforts.
A high-level committee will be formed to oversee the reconstruction of the flood-battered state. The Chief Secretary has been entrusted with the task of overseeing rehabilitation and restoration works.
The money collected via crowdfunding and Chief Minister’s Distress Relief Fund will be used for the reconstruction of houses completely wrecked during the flooding. Funds from the CMDRF will also be used for the subsistence of those living below the poverty line.
At least 493 people lost their lives in the rains and floods during the South West monsoon in Kerala. The state has suffered a loss of Rs 25,050 crore, as per the report by Rapid Damage Assessment and Need Analysis.